IPO - Upstart Holdings, Inc.

Form Type: 424B5

Filing Date: 2025-02-14

Corporate Action: Ipo

Type: New

Accession Number: 000119312525026670

Filing Summary: Upstart Holdings, Inc. is offering up to $500,000,000 of its common stock pursuant to an at-the-market sales agreement with BTIG, LLC. The common stock is traded on the Nasdaq under the symbol 'UPST'. The last reported sale price was $84.16 per share on February 13, 2025. The sales will be conducted through methods defined under Rule 415(a)(4), which includes direct trades on Nasdaq. There is no requirement for BTIG to sell a specific amount, and the sales agent will receive up to 2% of the gross proceeds as compensation. Investors are cautioned about the risks associated with investing in the common stock, including the potential for high volatility in the share price and consequences to existing shareholders due to dilution. The company plans to use the net proceeds from the offering to strengthen its balance sheet and for general corporate purposes. Upstart uses AI in the consumer credit underwriting process, aiming to improve access to affordable credit as traditional lending undergoes digital transformation.

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