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LendingClub raises IPO price as offering nears

Renaud Laplanche, co-founder and CEO of Lending Club.
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Renaud Laplanche, co-founder and CEO of Lending Club.

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

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

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

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