Sezzle (SZL), a fintech company that helps online merchants accept “buy now, pay later” payments, has submitted paperwork to the SEC in order to register its shares for a direct listing on the Nasdaq. In a regulatory filing, Sezzle revealed that selling stockholders will offer up to 117M of the company’s share price. The filing fee schedule suggested the offering was worth roughly $41M, but it did not reveal the reference value of the stock to be given or the timeframe of the listing. The transaction would provide no money for the corporation.

The financial technology company has submitted an application to have its fintech stock traded under the ticker symbol SZL on the Nasdaq. Under Australian Stock Exchange, Sezzle’s CHESS Depositary Interests are listed under the same ticker symbol. Prior to the listing, the business intends to execute a reverse split, pending approval from shareholders. Through Sezzle’s platform, customers may “buy now, pay later,” usually dividing the cost of an item into four equal payments spread out over a period of six weeks with no interest charged. Customers in the Millennial and Gen Z generations are the focus of this service.

According to Sezzle’s SEC filing, its primary rivals include Block (SQ), Affirm (AFRM), Klarna, Zip and PayPal (PYPL). An Apple (AAPL) “buy now, pay later” offering was also mentioned. Sezzle’s business has been losing money. In line with the S-1 filing, fintech had a significant loss of $38M in 2022 on revenue of $126M. Sezzle announced last week that the company would not be seeking new funding anytime soon because of its “excellent financial position” and operating solid success. It also said it anticipates turning a profit by 2023. The company was supposed to combine with a Zip subsidiary. In July last year, Sezzle and Zip agreed to end their partnership. In April 2021, Sezzle revealed to Seeking Alpha that it was considering an IPO but had not yet settled on the specifics of a listing.

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