Sezzle launches bookbuild for $79m placement – The Australian Financial Review

After a night of tough discussions, payments tearaway Sezzle has launched its $86.3 million capital raising to finance its growth strategy.
Sezzle CEO Charlie Youakim and chief revenue officer Paul Paradis in Melbourne last year. Wayne Taylor
The deal was a tricky one to price because Sezzle’s shares went on a tear on Thursday, closing 41 per cent higher at $6.95 when the company went into a trading halt, after this column revealed it was mulling a raising.
Sezzle and its broker Ord Minnett decided to price the $79.1 million underwritten placement and $7.2 million non-underwritten share purchase plan through a bookbuild from an underwritten floor price of $5, according to terms sent to funds on Friday morning.
Bids would be taken in 10¢ increments from the floor price and the bookbuild would close at 2pm on Friday.
The floor price represented a 28.1 per cent discount to Sezzle’s last close and a 10 per cent discount to the five-day VWAP.

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