Poshmark, Affirm Set Terms for IPOs, Joining 2021 Rush to Market

Online fashion marketplace Poshmark Inc. and instalment-payment company Affirm set terms for their US initial public offerings Wednesday, joining a rush of companies expected to tap public markets early in 2021.

Poshmark is seeking as much as $257.4 million, according to separate filings Wednesday with the US Securities and Exchange Commission.

Affirm Holdings Inc. filed on Tuesday to raise $935 million in its listing.

Poshmark will offer 6.6 million shares at $35 to $39 apiece. Its share sale is being led by Morgan Stanley, Goldman Sachs Group Inc. and Barclays Plc. The company plans to list its shares on the Nasdaq Global Select Market under the symbol POSH.

At the top end of the price range, the IPO could give Poshmark a fully diluted valuation of about $3.3 billion, and a market value of almost $2.9 billion.

By Crystal Tse