Jefferson Capital sets the lower limit of its IPO pricing range, raising $150 million

According to the Zhitong Finance APP, consumer debt acquisition and collection agency Jefferson Capital has raised $150 million through its initial public offering (IPO) on the U.S. stock market. The company issued 10 million shares at a price of $15 per share (of which 94% were secondary offerings), pricing at the lower end of its previous issuance range of $15 to $17. Based on this issuance price, the company's market value reached $972 million.

Jefferson Capital claims to be an industry-leading analytics-driven agency for the acquisition and management of defaulted and bankrupt consumer accounts, with operations primarily covering the United States, Canada, the United Kingdom, and Latin America. In addition to its main office, the company also has a collaborative operations center in Mumbai, India.

Jefferson Capital purchases various types of distressed consumer loans and receivables at a discount below face value and manages these loans and receivables by working with account holders as they repay their debts and strive for financial recovery. Its investment activities are mainly focused on installment loans and credit card debt, followed by auto loans and utility bills, with a particular emphasis on distressed assets.

Jefferson Capital plans to list on the NASDAQ stock exchange under the ticker symbol "JCAP." The joint book-running managers for this offering are Jefferies, Keefe Bruyette Woods, Citizens JMP, Raymond James, Truist Securities, Capital One Securities, DNB Markets, Regions Securities, and Synovus Securities