Flywire Corp., a Massachusetts-based global payments and software company, filed Monday to go public. The company has not yet determined the number of shares it will offer or what the expected pricing of its initial public offering would be. The company has applied for its stock to be listed on the Nasdaq under the ticker symbol “FLYW.” Goldman Sachs, J.P. Morgan, Citigroup and BofA Securities are the undewriters of the IPO. Reuters reported earlier this year that the company could be valued at around $3 billion in an IPO. The company recorded a net loss of $11.1 million on revenue of $131.8 million in 2020, after a loss of $20.1 million on revenue of $94.9 million in 2019. The company is looking to go public at time of tempered investor demand for IPOs, as the Renaissance IPO ETF IPO, -3.72% has dropped 11.9% over the past three months while the S&P 500 SPX, +0.38% has rallied 9.2%.
Do you know your companies value? Kick-off the new year with a valuation exercise and position yourself for success in 2021. With the industry’s foremost expert on valuations, The Strawhecker Group (TSG) works with clients to arm them with critical decision-making information.
What should you be doing right now?
Determining the value of a merchant portfolio is not a simple task. Luckily, TSG can position you for success with its unique “bottom up” approach analyzing the minutia of every merchant in the portfolio in order to accurately access its value. Email us to get started today.
Learn more about TSG’s valuations, matchmaking, and due diligence support that may help as you strategize for 2021.