Portland has its fair share of exits. But the vast majority of the time, those liquidity events are through acquisition. What doesn’t happen around these parts that regularly is an Initial Public Offering (IPO). But that may be changing, given that Expensify just filed a draft IPO registration with the SEC.
Expensify announced that it has confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (the “SEC”) relating to its proposed initial public offering of its common stock. The size and price range for the proposed offering have not yet been determined. The initial public offering is expected to commence after the completion of the SEC review process, subject to market and other conditions.
Now, while not technically headquartered in Portland, Expensify’s CEO and a chunk of the team work here. So like it or not, we’ve adopted them as part of our community.
Size, price range, and timing have not been disclosed at this time.
For more, see “Expensify Submits IPO Draft Registration” in PYMNTS.