LendingClub raises price as IPO nears

LendingClub's much anticipated initial public offering just got a little more expensive, reported media.

The online lender updated its IPO prospectus on Monday, and increased the price range to USD 12 to USD 14 a share from USD 10 to USD 12. The San Francisco-based company is scheduled to debut this Thursday on the New York Stock Exchange under ticker symbol LC, as per the media reported.

Should LendingClub sell at the top end of the range and the underwriters exercise their right to buy shares, the offering will reel in USD 929 million, marking the largest US tech IPO of the year.

On a fully diluted basis, which includes outstanding options and warrants, the company would be worth close to USD 6.5 billion.