Fiverr Closes First Trading Day 90% Up

Update: Fiverr's stock went up by 90% on its first day of trading on NYSE, closing at $39.9.

Online gig marketplace Fiverr Int. Ltd. will begin trading on NYSE Thursday, after offering 5,263,158 ordinary shares at $21 per share, the company announced Wednesday. The company’s initial public offering is being made at a $650 million post-IPO valuation, according to a prospectus submitted earlier this month to the U.S. Securities and Exchange Commission, and is expected to close by June 17.

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The underwriters of the IPO will also have a 30-day option to purchase up to 789,473 additional ordinary shares from Fiverr at the same price.

J.P. Morgan and Citigroup Global Markets Inc. are the lead book-running managers for the proposed offering. Bank of America’s BofA Securities and UBS Securities LLC are also acting as book-running managers.

Fiverr is represented by Shachar Hadar, Itay Frishman, Miri Shalit, and Elad Ziv from Meitar Liquornik Geva Leshem Tal and by Marc Jaffe, Ian Schuman, and Adam Gelardi of Los Angeles-based law firm Latham & Watkins and Joshua Kiernan from Latham & Watkins' London office.