Davis Polk advised the underwriters in connection with the $100.3 million initial public offering of 7,187,500 shares of common stock of Oportun Financial Corporation, of which 4,873,356 shares were issued and sold by Oportun and 2,314,144 shares were sold by the selling stockholders. The shares include a total of 937,500 shares sold by Oportun and the selling stockholders from the full exercise of the underwriters’ option to purchase additional shares. Oportun Financial Corporation is listed on the Nasdaq Global Select Market under the symbol “OPRT.”
Oportun is a high-growth, mission-driven Community Development Financial Institution and provider of inclusive, affordable financial services powered by a deep, data-driven understanding of its customers and advanced proprietary technology. Oportun serves customers online, over the phone or in person in English and Spanish in the following 12 states: Arizona, California, Florida, Idaho, Illinois, Missouri, Nevada, New Jersey, New Mexico, Texas, Utah and Wisconsin.
The Davis Polk capital markets team included partners Michael Kaplan and Shane Tintle and associates Jacqueline Marino and Ali DeGolia. The financial institutions team included partner Margaret E. Tahyar and associate Greg Swanson. Associates Daniel F. Forester and S. Dream Montgomery provided intellectual property and technology advice. The tax team included partner Po Sit. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and Northern California offices.