Payments company Flywire files to go public

Flywire Corp., a Massachusetts-based global payments and software company, filed Monday to go public. The company has not yet determined the number of shares it will offer or what the expected pricing of its initial public offering would be. The company has applied for its stock to be listed on the Nasdaq under the ticker symbol “FLYW.” Goldman Sachs, J.P. Morgan, Citigroup and BofA Securities are the undewriters of the IPO. Reuters reported earlier this year that the company could be valued at around $3 billion in an IPO. The company recorded a net loss of $11.1 million on revenue of $131.8 million in 2020, after a loss of $20.1 million on revenue of $94.9 million in 2019. The company is looking to go public at time of tempered investor demand for IPOs, as the Renaissance IPO ETF has dropped 11.9% over the past three months while the S&P 500 has rallied 9.2%.

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