Wealthfront Announces Launch of Initial Public Offering

Core Viewpoint - Wealthfront has initiated the roadshow for its proposed initial public offering (IPO) of common stock, filing a registration statement with the SEC to offer 34,615,384 shares to the public, with an expected price range of $12.00 to $14.00 per share [1]. Group 1: IPO Details - The offering includes 21,468,038 shares from Wealthfront and 13,147,346 shares from existing stockholders, with Wealthfront not receiving proceeds from the latter [1]. - Wealthfront plans to grant underwriters a 30-day option to purchase an additional 5,192,308 shares at the IPO price, less underwriting discounts and commissions [1]. - The company has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol "WLTH" [1]. Group 2: Underwriters - Goldman Sachs & Co. LLC and J.P. Morgan are the lead book-running managers for the offering [1]. - Citigroup, Wells Fargo Securities, and RBC Capital Markets are acting as active book-running managers, while Citizens Capital Markets, Keefe, Bruyette & Woods, A Stifel Company, and KeyBanc Capital Markets are co-managers [1]. Group 3: Company Overview - Wealthfront is a tech-driven financial platform that assists digital natives in turning their savings into wealth [4]. - The company offers a broad suite of products, including cash management, investing, borrowing, and financial planning solutions, catering to diverse client needs [4]. - Wealthfront is known for pioneering automation to provide low-cost diversified portfolios, leveraging its software-driven platform for quick and convenient solutions [4].