Lending Club IPO Tops $1 Billion After Exercise of Over-Allotment Option

Lending Club and Selling Stockholders Close Initial Public Offering

SAN FRANCISCO – December 16, 2014 –  Lending Club (NYSE: LC) the world's largest online marketplace connecting borrowers and investors, today announced the closing of its initial public offering and the exercise in full of the underwriters' option to purchase an additional 8,700,000 shares from Lending Club.

After the underwriters' exercise of the option to purchase additional shares, a total of 66,700,000 shares were sold at the price to the public of $15 for a total of just over $1.0 billion in aggregate gross proceeds, which included the sale of 59,000,000 shares by Lending Club and 7,700,000 shares by selling stockholders.

Morgan Stanley & Co. LLC and Goldman, Sachs & Co. acted as joint lead book-running managers for the offering. Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. acted as joint book-running managers for the offering. Allen & Company LLC acted as lead manager, and Stifel, Nicolaus & Company, Incorporated, BMO Capital Markets Corp., William Blair & Company, L.L.C., and Wells Fargo Securities, LLC acted as co-managers for the offering.

The offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, or email: prospectus-ny@ny.email.gs.com; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, by calling (800) 221-1037 or by emailing a request to newyork.prospectus@credit-suisse.com; or Citigroup Global Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, New York 11717 or by calling (800) 831-9146.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on December 10, 2014. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 registration or qualification under the securities laws of any such state or jurisdiction.

Press Contact:

Grayling PR
415-593-1400
LendingClub@grayling.com



Investor Contact:

James Samford
IR@lendingclub.com

Financial Innovation

Google’s partnership with Lending Club puts a contemporary, high-tech twist on the age-old model of large commercial companies providing financing to the small businesses in their supply chain.

American Banker

Featured Borrower

Alex

"Getting engaged forced me to make some important financial decisions, so I consolidated several sources of debt with a single loan from Lending Club."