标题：Upstart launches $500 million at-the-market offering
来源：
UPST, Investing.com
网址：
https://bit.ly/3WXKQyA
内文：
SAN MATEO, CA – Upstart Holdings, Inc.
(NASDAQ:[UPST](https://www.investing.com/equities/upstart-holdings-inc)), a
fintech company providing artificial intelligence lending platforms, has
announced the initiation of an at-the-market (ATM) equity offering program,
as per their latest 8-K filing with the Securities and Exchange Commission
(SEC).
The announcement comes as the company's stock has shown remarkable momentum,
with a 218% return over the past year and a recent surge of 22% in the past
week, according to [InvestingPro](https://www.investing.com/pro/UPST) data.
The company, headquartered in San Mateo, California, entered into a Sales
Agreement with BTIG, LLC on Thursday, allowing for the potential sale of
common stock worth up to $500 million. With a current market capitalization
of $7.87 billion and a strong current ratio of 13.32, Upstart maintains a
solid financial position with liquid assets well exceeding short-term
obligations.
The shares, each with a par value of $0.0001, will be offered pursuant to an
effective shelf registration statement and the related prospectus filed with
the SEC on the same day. Upstart's management has expressed intentions to use
any net proceeds from the sale for general corporate purposes, including
working capital.
Under the Sales Agreement, BTIG, LLC will act as the sales agent, tasked with
selling the shares on Upstart's behalf based on the company's directives. The
sales agent is entitled to a commission of up to 2% of the gross proceeds
from the sales executed under the agreement. The transactions may be carried
out at market prices, aligning with the definition set forth in Rule
415(a)(4) of the Securities Act of 1933, as amended.
Upstart has clarified that there is no obligation to sell any shares and
retains the right to suspend sales at any time. The Sales Agreement is set to
terminate upon the sale of all shares or upon notice by either party, subject
to certain conditions outlined in the agreement.
The filing includes the legal opinion of Wilson Sonsini Goodrich & Rosati,
Professional Corporation, regarding the legality of the common stock being
offered, which is also filed as an exhibit to the 8-K report.
This SEC filing and the associated Sales Agreement mark a significant step
for Upstart as it seeks to raise capital while offering flexibility in its
financing strategy. While the company reported losses in the last twelve
months, [InvestingPro](https://www.investing.com/pro/UPST) analysis indicates
that analysts expect profitability this year, with 8 analysts recently
revising their earnings estimates upward.
For deeper insights into Upstart's financial health and growth prospects,
investors can access comprehensive analysis through InvestingPro's detailed
research reports, available for over 1,400 US stocks.
Given the stock's high volatility and current trading levels, which
[InvestingPro](https://www.investing.com/pro/UPST) analysis suggests may be
above Fair Value, investors should carefully monitor the company's execution
of this offering program.
In other recent news, Upstart Holdings Inc . has been making headlines with
significant developments.
The company has seen a notable surge in its Q4 revenue, reporting $219
million, a 56% increase YoY, and surpassing analyst expectations. The
adjusted EPS came in at $0.26, and the company anticipates Q1 2025 revenue of
approximately $200 million, above analyst estimates. Furthermore, Upstart's
full-year 2025 revenue projection of about $1 billion also exceeds analyst
expectations.
Citi analyst Peter Christiansen raised the price target on Upstart shares to
$108, up from the previous $87, while reiterating a Buy rating. Christiansen
also highlighted Upstart's proactive approach in issuing discretionary
capital ahead of potential new capital deals and the success of its
artificial intelligence in risk separation. On the other hand, Mizuho
(NYSE:[MFG](https://www.investing.com/equities/mizuho)) Securities has
increased the price target for Upstart shares to $110, up from the previous
$90, citing the company's improved financial outlook and potential for
continued outperformance.
*This article was generated with the support of AI and reviewed by an editor.
For more information see our T&C.*
加州圣马刁 - Upstart Holdings, Inc.（纳斯达克：
[UPST](https://www.investing.com/equities/upstart-holdings-inc)）是一家提供人
工智能借贷平台的金融科技公司，根据其最新向证券交易委员会（SEC）提交的8-K文件，
该公司宣布启动一项场内（ATM）股票发行计划。
根据[InvestingPro](https://www.investing.com/pro/UPST)的数据，在公司股票过去一
年取得218%回报率且最近一周上涨22%的强劲走势下，该公司发布了这项公告。
这家总部位于加州圣马刁的公司于周四与BTIG, LLC签订了销售协议，允许潜在出售价值
高达5亿美元的普通股。以目前78.7亿美元的市值和13.32的强劲流动比率来看，Upstart
维持着稳健的财务状况，其流动资产远超短期负债。
这些面值为0.0001美元的股票将根据同日向SEC提交的有效柜架注册声明和相关招股说明
书进行发行。Upstart管理层表示，计划将出售所得的净收益用于一般公司用途，包括营
运资金。
根据销售协议，BTIG, LLC将作为销售代理人，按照公司指示代表Upstart销售股票。销售
代理人有权获得协议下执行销售所得总收益最高2%的佣金。这些交易可能按照1933年证券
法（经修订）第415(a)(4)条规定的市场价格进行。
Upstart已明确表示，公司没有出售任何股票的义务，并保留随时暂停销售的权利。销售
协议将在所有股票售出或任何一方发出通知时终止，但须符合协议中规定的特定条件。
该申报文件包括Wilson Sonsini Goodrich & Rosati专业公司就所发行普通股合法性提供
的法律意见，该意见也作为8-K报告的附件提交。
这份SEC申报文件和相关销售协议标志着Upstart在寻求筹集资金的同时为其融资策略提供
灵活性的重要一步。尽管公司在过去十二个月报告亏损，但
[InvestingPro](https://www.investing.com/pro/UPST)分析显示，分析师预期今年将实
现盈利，最近有8位分析师上调了其盈利预期。
投资者可以通过InvestingPro的详细研究报告深入了解Upstart的财务健康状况和增长前
景，该报告涵盖超过1,400支美股。
鉴于股票的高波动性和当前交易水平，
[InvestingPro](https://www.investing.com/pro/UPST)分析表明可能高于公允价值，投
资者应谨慎关注公司此次发行计划的执行情况。
在其他近期新闻中，Upstart Holdings Inc.因重大发展而成为头条新闻。
该公司第四季度收入显著增长，报告收入为2.19亿美元，同比增长56%，超过分析师预期
。调整后每股收益为0.26美元，公司预计2025年第一季度收入约为2亿美元，高于分析师
估计。此外，Upstart 2025年全年收入预计约为10亿美元，同样超过分析师预期。
花旗分析师Peter Christiansen将Upstart股票目标价从之前的87美元上调至108美元，同
时重申买入评级。Christiansen还强调了Upstart在潜在新资本交易前发行自主资本的积
极策略，以及其人工智能在风险分离方面的成功。另一方面，瑞穗（纽约证券交易所：
[MFG](https://www.investing.com/equities/mizuho)）证券将Upstart股票目标价从之
前的90美元上调至110美元，理由是公司改善的财务前景和持续超越预期的潜力。
*本文在人工智能的支持下生成，并经编辑审核。更多信息请参见我们的条款和条件。*
心得：不是你财报刚过就卖股票是要?