The IPO Buzz: Chime Financial (CHYM Proposed) Launches $800 Million IPO

Chime Financial, Inc. (CHYM Proposed), which runs a mobile banking platform for Americans earning $100,000 or less per year, expects to raise $800 million in its IPO, launched early today – Monday, June 2, 2025. Chime Financial’s IPO consists of  32 million shares at a price range of $24.00 to $26.00 to raise $800 million, if priced at the $25.00 mid-point of its range – according to an S-1/A filing dated June 2, 2025. Chime Financial’s IPO is expected to price next week. (Please see our IPO Calendar.) This is a NASDAQ listing. Of the 32 million shares in the IPO, Chime Financial is offering 25.9 million shares and the selling shareholders are offering 6.099 million shares, according to the prospectus. The company will not receive any proceeds from the sale of the selling shareholders’ stock. At pricing, Chime Financial would have a market cap of about $9.11 billion, if the IPO is priced at its $25.00 mid-point. Morgan Stanley, Goldman Sachs and J.P. Morgan are the lead joint underwriters. The joint book-running team includes Barclays, Evercore ISI, UBS Investment Bank, Deutsche Bank Securities, Piper Sandler and the Wolfe Nomura Alliance. Chime Financial, based in San Francisco, said the company was created “to serve everyday Americans earning $100,000 a year or less,” according to the prospectus. The company is incorporated in Delaware. From the prospectus: “We created Chime to help everyday people make progress in their financial lives. For too long, millions of Americans, including the 75 percent of the adult population that earn up to $100,000 annually, have struggled with bank relationships that are not always aligned with their best interests. So we set out to create a new approach, built on a foundation of trust rather than fine print and punitive fees. Through our direct relationships with FDIC-insured bank partners, we deliver easy-to-use products that address the most critical financial needs of everyday people — spending, saving, accessing liquidity, and building credit, all while avoiding punitive fees.” Chime Financial had “8.6 million Active Members, with 67 percent of them relying on Chime to serve as their primary financial relationship as of March 31, 2025,” the prospectus said. “In the first quarter of 2025, our Active Members used Chime for 54 transactions per month, on average, of which 75 percent were purchase transactions using Chime-branded debit and credit cards. Seventy percent of purchase transactions are for non-discretionary expenses made in categories such as food and groceries, gas, and utilities. “ Chime Financial is not profitable, according to financial statements in the prospectus. For the 12 months that ended Dec. 31, 2024, Chime Financial reported a net loss of $25.34 million on revenue of $1.67 billion. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com  website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the  shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.