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Posted on: Nov. 19, 2015, 3:11 p.m.
The payments company’s IPO priced at $9, below an expected range of $11 to $13 and well under the $15.46 that investors including Rizvi Traverse and J.P. Morgan Chase & Co. paid last fall. That $150 million funding round came with what’s called a “ratchet,” meaning the investors were guaranteed additional shares if the IPO price didn’t reach a certain level. Full investment news article