Rewards app Ibotta announces IPO

Denver-based cash back rewards company Ibotta is going public on the New York Stock Exchange under the ticker symbol IBTA, the company announced on Monday. 

The company said that it is offering 5.625 million shares of Class A common stock. Ibotta will sell 2.5 million shares and 3.125 million will be sold by stockholders. 

The initial price will run between an estimated $76 and $84 per share, the company said. 

Book-running managers for the offering will be led by Goldman Sachs & Co., Citigroup and BofA Securities. 

Ibotta said it has filed a registration statement with the U.S. Securities and Exchange Commission.

The company said in a press release that U.S. shoppers have earned an estimated $1.8 billion through its rewards program since 2012. 

Ibotta made headlines in early March with the announcement that it has partnered with discount retailer Family Dollar.