Wall Street had its popcorn ready: After three years of sputters, the IPO screen was lighting up again , with Klarna , CoreWeave , and a handful of buzzy consumer names. Then Washington tripped over the power cord, plunging the whole IPO theater into darkness . With a federal government shutdown having started this week, the Securities and Exchange Commission is running on a skeleton crew. That means no new registration statements get reviewed, no comment letters get cleared, and no “effective” notices ge ...

Company Overview - Klarna Group is a Swedish fintech company founded in 2005 and headquartered in Stockholm, recognized as a major player in the buy now, pay later (BNPL) sector [2] - BNPL services allow consumers to make purchases in installments without upfront payments, which has transformed consumer finance [3] IPO Details - Klarna's IPO is highly anticipated, with shares debuting on September 10, 2025, after initial plans were postponed due to market conditions [6][7] - The shares were priced at $40 each, exceeding the initial target range of $35 to $37 [9] - A total of 34,311,274 ordinary shares are available, with only 5 million being sold by Klarna itself; the majority are from existing shareholders [10] Financial Metrics - Klarna's IPO raised $1.37 billion, but the company will not benefit from this amount as most shares are sold by private shareholders [11] - Post-IPO, Klarna's valuation stands at approximately $15.11 billion, significantly lower than its previous valuation of over $45 billion [11] - Projected gross merchandise volume (GMV) is expected to reach $105 billion in 2024, up from $53 billion in 2020, with total revenue anticipated to be $2.8 billion in 2024 [12] Market Context - Klarna's IPO is part of a broader trend of tech IPOs in 2025, alongside companies like Chime and eToro, although the overall tech IPO market is less active compared to previous years [15][16] - Recent data indicates that global tech IPOs generated $6.3 billion in proceeds in Q2 2025, a stark contrast to $34.9 billion in Q2 2021 [16] Analyst Insights - Analysts, such as Niklas Kammer from Morningstar, suggest that Klarna's IPO price undervalues its growth potential, with expectations of a 12.5% upside [13][14]