Jefferson Capital, a consumer debt purchaser and collector, announced terms for its IPO on Friday.
The Minneapolis, MN-based company plans to raise $160 million by offering 10 million shares (94% secondary) at a price range of $15 to $17. At the midpoint of the proposed range, Jefferson Capital would command a market value of $1.0 billion.
Jefferson states that it is a leading analytically driven purchaser and manager of charged-off and insolvency consumer accounts with operations primarily in the US, Canada, the UK, and Latin America. In addition to its main offices, the company has a co-sourced operation in Mumbai, India. Jefferson purchases nonperforming consumer loans and receivables at a discount to their face value across a broad range of financial assets, managing the loans and receivables by working with the account holders as they repay their obligations and work toward financial recovery. Its investment activity is primarily concentrated in installment loans and credit cards, followed by auto and utilities, with a focus on distressed assets.
Jefferson Capital was founded in 2002 and booked $488 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol JCAP. Jefferies, Keefe Bruyette Woods, Citizens JMP, Raymond James, Truist Securities, Capital One Securities, DNB Markets, Regions Securities, and Synovus Securities are the joint bookrunners on the deal. It is expected to price during the week of June 23, 2025.
