Ann: SZL Files Confidential Registration for Proposed IPO, page-6

Goldman Sachs to underwrite Sezzle’s US floatAnthony Macdonald and Yolanda RedrupAug 23, 2021 – 11.16amSaveShareUnited States-based Afterpay rival Sezzle is gearing up to list in the US before the end of the year and Goldman Sachs Bank USA is down to underwrite the float.The company revealed on Monday that it had filed a draft registration statement on Form S-1 with the US Securities and Exchange Commission relating to an underwritten IPO.Goldman Sachs role in the float comes on the back of its position as Sezzle’s lender in the US and in February, it entered into a senior asset-based revolving credit facility, with a borrowing capacity of up to $250 million.Sezzle CEO Charlie Youakim and chief revenue officer Paul Paradis. Wayne TaylorWhile the number of shares and price range of the IPO is not yet determined, it is expected that the listing will take place in 2021.The SEC has 30 days to review Sezzle’s submission.RELATED QUOTESSZLSezzle$6.600 0.15%1 year1 dayAug 20Nov 20Feb 21Aug 214.0008.00012.000Updated: Aug 23, 2021 – 1.33pm. Data is 20 mins delayed.View SZL related articles AdvertisementThe company listed on the ASX in August 2019 and in the last two years it has gained 182 per cent, with its shares trading at $6.76 on Monday morning.However, the company is a fair way off its 12-month-high, having hit almost $12 per share in August last year.The company was inspired to list on the ASX thanks to the success of Nick Molnar and Anthony Eisen’s Afterpay, which was bought earlier this month for $39 billion by Square.In July Sezzle announced the third-largest credit card company in the US, Discover, would invest $US30 million ($40 million) in the company via a placement at a premium to its share price. Discover bought in at $8.83 per share.The company has been accelerating an in-store rollout of its BNPL product.It formed a deal with Discover to issue “virtual” Discover cards, which levy a higher interchange fee rate on retailers’ banks. This enabled the service to be profitable for Sezzle, without having to charge customer fees, or rely on affiliate fees charged to merchants for online sales.The company has about 2.6 million users and more than 34,000 merchants offering its service in the US.