Liftoff closes $502.55M IPO, fully exercises underwriters' option
Liftoff Mobile, Inc. has successfully closed its initial public offering, issuing 21,850,000 shares at $23.00 each, with underwriters fully exercising their option for an additional 2,850,000 shares. The company plans to use the net proceeds to repay outstanding debt under its senior secured term loan facility and for general corporate purposes. The shares are listed on the Nasdaq Global Select Market under the ticker symbol "LFTO," with major financial institutions acting as lead book-running managers.
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Liftoff Mobile, Inc. closed its initial public offering of 21,850,000 shares of common stock at a public offering price of $23.00 per share. The offering included the full exercise by the underwriters of their option to purchase an additional 2,850,000 shares of common stock. Liftoff's common stock is listed on the Nasdaq Global Select Market under the symbol "LFTO."
Liftoff intends to use the net proceeds from the offering to repay outstanding indebtedness under its senior secured term loan facility. The remaining funds will be used for general corporate purposes and to bear all of the expenses of the offering.
Key Offering Details
| Detail | Value |
|---|---|
| Total shares offered | 21,850,000 |
| Additional shares (greenshoe) | 2,850,000 |
| Public offering price per share | $23.00 |
| Listing exchange | Nasdaq Global Select Market |
| Ticker symbol | LFTO |
Goldman Sachs & Co. LLC, Jefferies and Morgan Stanley acted as joint lead book-running managers for the offering. Barclays, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, William Blair, Cantor, Deutsche Bank Securities, PJT Partners, Wolfe | Nomura Alliance, BTIG, Needham & Company and Raymond James acted as joint book-running managers. Blackstone Capital Markets, MUFG, Stifel, LUMA Securities, Bancroft Capital, Cabrera Capital Markets LLC, Drexel Hamilton, Independence Point Securities and Tigress Financial Partners acted as co-managers.
A registration statement relating to these securities was filed with the Securities and Exchange Commission and was declared effective on June 3, 2026. The offering was made only by means of a prospectus.
How will the repayment of the senior secured term loan impact Liftoff's interest expenses and future profitability?
What strategic initiatives or acquisitions might Liftoff pursue with the remaining funds allocated for general corporate purposes?
How will the IPO affect Liftoff's ability to attract and retain talent in the competitive mobile advertising market?
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