Upstart Files Registration Statement for Proposed Initial Public Offering

SAN MATEO, Calif.--(BUSINESS WIRE)--Upstart Holdings, Inc. (“Upstart”) announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Upstart intends to list its common stock on The Nasdaq Global Select Market under the symbol “UPST.”

Goldman Sachs & Co. LLC, BofA Securities and Citigroup will act as lead book-running managers for the proposed offering. Jefferies and Barclays will also act as book-running managers. JMP Securities and Blaylock Van, LLC will act as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526 or by e-mail at [e-mail]; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, by telephone at [phone] or by email at [e-mail], or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at [phone].

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Upstart

Upstart is a leading AI lending platform partnering with banks to expand access to affordable credit.