BOSTON--(BUSINESS WIRE)--

Lendbuzz Inc. (“Lendbuzz”), a financial technology company that utilizes artificial intelligence and machine learning algorithms to better assess consumer credit risk and expand access to credit when purchasing a vehicle, announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to the proposed initial public offering of its common stock.

Lendbuzz intends to list its common stock on The Nasdaq Global Select Market under the ticker symbol “LBZZ.”

The amount of common stock to be offered and the price range for the proposed offering have not yet been determined. Lendbuzz expects to complete the public offering after the SEC completes its review process, subject to market and other conditions. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Goldman Sachs & Co. LLC, J.P. Morgan, RBC Capital Markets and Mizuho will act as lead book-running managers for the proposed offering. TD Securities, Citizens Capital Markets, Keefe, Bruyette & Woods, a Stifel Company, and Needham & Company will act as passive bookrunners for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected], J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected] and [email protected], RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, New York, NY 10281, telephone: 877-822-4089 or by emailing [email protected] or Mizuho Securities USA LLC, Attention: Equity Capital Markets, 1271 Avenue of the Americas, New York, New York 10020, telephone 1-212-205-7600 or by emailing [email protected].

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Lendbuzz

Lendbuzz is a financial technology company that utilizes artificial intelligence and machine learning algorithms to better assess consumer credit risk and expand access to credit. Lendbuzz seamlessly processes large sets of data through advanced computational approaches to more accurately predict a consumer’s creditworthiness. Lendbuzz’s business benefits both consumers through expanded access to credit, and auto dealerships via increased vehicle sales. Lendbuzz is headquartered in Boston, Massachusetts and was founded in 2015.

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Source: Lendbuzz Inc.