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DLA Piper has advised Zebit, Inc. on its IPO and ASX listing.
Firm: DLA Piper (Zebit).
Value: $35 million.
Area: Capital markets.
Key players: The DLA Piper team was led by Australian head of equity capital markets, David Ryan and San Diego corporate partner Richard B. Bull, with special counsel Kelly Morrison and associates Kathryn Fortin, Claudia McEwen and Ellie Harding.
The IPO was fully underwritten by Shaw & Partners.
Deal significance: Zebit (ASX: ZBT) becomes the latest US fintech to join the ASX.
The offer raised $35 million with an indicative market capitalisation of $149 million.
“We are delighted to help an innovative and founder-led business achieve such a significant milestone. The DLA Piper Australia and US teams worked together seamlessly to bring another U.S. technology company to the ASX,” Mr Ryan said.
Zebit is a California-based company that is dedicated to changing the lives of over 120 million US credit-challenged consumers.
Zebit’s e-commerce and custom buy now, pay later (BNPL) offering, the Zebit Marketplace, offers these consumers a large set of products across more than 25 product categories (such as electronics, appliances, home decor, furniture and beauty), and store credit to pay for their purchases over six months without any late charges or hidden fees.
Zebit was founded in 2015 and operates in all 50 states across the US.
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Tony Zhang
