Wealthfront Priced at $14 per Share, Tops Marketed Range

Wealthfront, a robo-adviser, has priced its IPO at $14 per share, the top of the marketed range. The company is offering 21.5 million shares, raising around $484.6 million and valuing the firm at around $2 billion. BlackRock and Wellington Management had agreed to buy up to $150 million in IPO shares. Wealthfront has around $88.2 billion in platform assets and reported net income of $60.7 million on revenue of $175.6 million for the six months ended July 31. The IPO follows a number of other fintech firms making their debuts this year.