Lending Club has priced its IPO at $15, raising $870 million and collecting an initial market cap of $5.4 billion. The price was above the estimated range filed by the company, which listed on the NYSE under the symbol LC. Lending Club has facilitated more than $6 billion in loan originations since it launched in 2007, and in the nine months ended September 30, it generated $143 million in revenue with adjusted EBITDA of $13.4 million. LC opened its first day of trading at $24.75, later closing at $23.43. VC backers include Norwest Venture Partners (16.3% pre-IPO stake), Canaan Partners (15.7%) and Foundation Capital (12.7%).