Wealthfront launches roadshow for proposed IPO on Nasdaq

Wealthfront Corp. (NYSE: WLTH) announced it has launched the roadshow for its proposed initial public offering of common stock. The financial technology platform filed a registration statement with the Securities and Exchange Commission to offer 34,615,384 shares to the public.

The offering includes 21,468,038 shares from Wealthfront and 13,147,346 shares from existing stockholders. Wealthfront will not receive proceeds from the shares sold by existing stockholders. The company plans to grant underwriters a 30-day option to purchase up to 5,192,308 additional shares.

The initial public offering price is expected to range between $12.00 and $14.00 per share. Wealthfront has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol "WLTH."

Goldman Sachs and J.P. Morgan serve as lead book-running managers for the proposed offering. Citigroup, Wells Fargo Securities, and RBC Capital Markets act as active book-running managers. Citizens Capital Markets, Keefe, Bruyette & Woods, KeyBanc Capital Markets function as co-managers.

The registration statement filed with the SEC has not yet become effective. The securities cannot be sold until the registration statement becomes effective, according to the company's statement.

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