[isaacdstern]

http://dealbook.nytimes.com/2014/12/...latforms/?_r=0

[bizloanbroker]

short it Isaac

[isaacdstern]

I have heard that same line from quite a few folks

[isaacdstern]

OnDeck Capital Boosts Size of Planned IPO to $207 Million
Fast-Growing Online Small-Business Lender Plans to Offer 10 Million Shares
By
Angela Chen
Dec. 4, 2014 8:39 a.m. ET
0 COMMENTS

Web-based lender OnDeck Capital boosted the amount it intends to raise in its initial public offering to $207 million as it set the deal’s estimated terms.

The fast-growing, but unprofitable, company said it expects to offer 10 million shares at $16 to $18 a share and will give underwriters the right to purchase up to an additional 1.5 million shares.

The small-business lender filed for an IPO last month, amid strong investor interest in nonbank lending companies. The company had previously guided for a $150 million offering.

OnDeck uses proprietary software and “big data” to evaluate credit risk, while it collects from borrowers with electronic-payment technology. Backers include Google Ventures and PayPal co-founder Peter Thiel.

OnDeck has been growing quickly, but is still losing money. For the six months ended June 30, OnDeck Capital’s revenue rose $20 million to $64.5 million, but its loss widened to $14.4 million from $13.7 million.

The Wall Street Journal reported in August that OnDeck’s planned IPO could value the business at about $1.5 billion. Underwriters for OnDeck’s planned IPO include Morgan Stanley and Merrill Lynch.

The company plans to list its shares on the New York Stock Exchange under the symbol ONDK.

[channin19]

IPO Date is set for next Wednesday the 17th

http://www.nasdaq.com/article/on-dec...ublic-cm419724

[Zach]

This is exciting. I wonder how this will effect On Deck, and subsequently, the industry as a whole.