Affirm Holdings’ $1.39 Billion Initial Public Offering

Davis Polk advised the representatives of the several underwriters in the offering.

Affirm Holdings, Inc. executed its $1.39 billion initial public offering of 28,290,000 shares of Class A common stock. The shares include 3,690,000 sold by Affirm from the full exercise of the underwriters’ option to purchase additional shares. The common stock is listed on the Nasdaq Global Select Market under the symbol “AFRM.”

Morgan Stanley, Goldman Sachs and Allen & Co were the lead underwriters for the offering.

Affirm is building the next generation platform for digital and mobile-first commerce. Affirm believes by using modern technology, the very best engineering talent, and a mission-driven approach Affirm can reinvent the payment experience. Affirm’s solutions, which are built on trust and transparency, make it easier for consumers to spend responsibly and with confidence, easier for merchants to convert sales and grow, and easier for commerce to thrive.

The Davis Polk corporate team included partners Byron B. Rooney (Picture) and Emily Roberts and associates Heita Miki and Sarah Kirk. Partner Margaret E. Tahyar and associate Greg Swanson provided financial institutions advice. The intellectual property and technology transactions team included partner Pritesh P. Shah and associate Christopher C. Woller. The tax team included counsel Ethan R. Goldman. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: Ethan Goldman – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Sarah Kirk – Davis Polk & Wardwell; Heita Miki – Davis Polk & Wardwell; Emily Roberts – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell; Pritesh P. Shah – Davis Polk & Wardwell; Greg Swanson – Davis Polk & Wardwell; Margaret Tahyar – Davis Polk & Wardwell; Christopher Woller – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Allen & Company LLC; Goldman Sachs & Co.; Morgan Stanley;


Author: Ambrogio Visconti