Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 370

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 5
Chunk 370
---
    451

    —

    —

    Purchase of property and equipment in accounts payable

    16

    14

    36

    Capitalized stock-based compensation expense

    1,519

    —

    —

    Issuance of common stock for retention bonus

    324

    1,196

    —

    Reconciliation of cash, cash equivalents and restricted cash

    Cash and cash equivalents
     
    $
    495,242

    $
    654,608

    $
    349,177

    Restricted cash

    —

    —

    2,000

    Cash, cash equivalents and restricted cash
     
    $
    495,242

    $
    654,608

    $
    351,177

The accompanying notes are an integral part of these consolidated financial statements. 

115

FLYWIRE CORPORATION 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

Note 1. Business Overview and Summary of Significant Accounting Policies Flywire Corporation (Flywire or the Company) was incorporated under the laws of the State of Delaware in July 2009 as peerTransfer Corporation. In 2016, the Company changed its name to Flywire Corporation. The Company is headquartered in Boston, Massachusetts and has a global footprint in 16 countries across 5 continents.Flywire provides a secure global payments platform, offering its clients an innovative and streamlined process to receive reconciled domestic and international payments in a more cost effective and efficient manner. The Company’s solutions are built on three core elements: (i) a next-gen payments platform, (ii) a proprietary global payment network, and (iii) vertical-specific software backed by its deep industry expertise. 2023 Follow-On Public OfferingOn August 9, 2023, the Company entered into an Underwriting Agreement with Goldman Sachs & Co. LLC, as representative of the several Underwriters, in connection with the offer and sale of 8,000,000 shares of voting common stock, at a price to the public of $32.00 per share. In addition, pursuant to the terms of the Underwriting Agreement, the Company granted the Option to purchase up to 1,200,000 additional shares of voting common stock.The Primary Offering closed on August 14, 2023 and on September 12, 2023, the Underwriters exercised the Option in part and purchased an additional 500,000 shares of voting common stock at a price to the public of $