Jefferson Capital (JCAP) priced its IPO at $15.00 – the low end of its $15.00-to-$17.00 price range – and sold 10.0 million shares – the number in the prospectus – to raise $150.0 million tonight – Wednesday, June 25, 2025. Jefferson Capital’s stock surged $4.00 to open at $19.00 at 11 a.m. EDT on Thursday, June 26, 2025 – on the NASDAQ. Volume on that first trade totaled 329,911 shares.
Minneapolis-based Jefferson Capital buys consumer debt – and invests in it as well.
At pricing, Jefferson Capital had a market cap of $972.2 million.
Jefferies and Keefe, Bruyette & Woods are the lead joint book-runners.
Of the 10.0 million shares in the IPO, Jefferson Capital offered only 625,000 shares. The selling shareholders – J.C. Flowers and Canaccede – offered 9,375,000 shares, the prospectus said. J.C. Flowers offered about 7.76 million shares and Canaccede offered about 1.61 million shares.
After the IPO, private equity giant J.C. Flowers & Co. will still own about 68.9 percent of the outstanding stock.
Jefferson Capital, based in Minneapolis, buys and collects consumer debt – typically charge-offs and insolvent consumer accounts – in the U.S., Canada, the U.K. and Latin America. The company invests in installment loans, credit cards, auto loans and utility debt. Its focus is on distressed assets.
The company is profitable. Jefferson Capital earned net income of $160.2 million on revenue of $488.0 million for the 12 months that ended March 31, 2025, according to financial statements in the prospectus.
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