Jefferson Capital, a consumer debt purchaser and collector, raised $150 million by offering 10 million shares (94% secondary) at $15, the low end of the range of $15 to $17. At pricing, Jefferson Capital commands a market value of $972 million.
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 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 acted as joint bookrunners on the deal.
