Sezzle's $79 million share auction looks likely to get done at up to $5.30, according to an update from the company's broker Ord Minnett.
In a message to funds around lunchtime, the broker said "demand has continued at the pre-launch underwritten floor of $5.00 and we are now exploring price tension at $5.20 and $5.30".The bookbuild was pegged to close at 2pm, funds were told.The company launched the placement on Friday morning, which would be followed by a non-underwritten share purchase plan to raise a total of $86.3 million.Fresh capital from the deal – first revealed by this column – would be used for sales and marketing activities, international expansion opportunities, product enhancement and to bolster Sezzle's balance sheet.It was a tough deal to price, after Sezzle's shares went on a tear during Thursday's trade and closed 41 per cent higher at $6.95.
SZL Price at posting:
$6.95 Sentiment: Buy Disclosure: Held
