GreenSky, an Atlanta-based digital lending platform, set its IPO terms to 34.09 million shares at $21-$23.
Why it's a big deal: Because this is a major market validation test for an online lending market whose last two VC-backed "unicorns" — LendingClub and OnDeck Capital — have flopped post-IPO.
GreenSky would have a fully-diluted market value of around $4.2 billion, were it to price in the middle of its range, and has raised over $600 million from firms like TPG Growth, Pimco, DST Global, ICONIQ Capital, QED Investors and Wellington Management.
It plans to trade on the Nasdaq under ticker GSKY, with Goldman Sachs as lead underwriter.
The company reports $139 million of net income on $326 million in revenue for 2017.
Bottom line: "GreenSky made its name as a lender to help people pay for home improvement projects and expanded into helping fund elective health-care procedures." — Bloomberg
