Monday, February 15, 2021 1:56:43 PM
https://investors.loandepot.com/news/corporate-and-financial-news/corporate-and-financial-news-details/2021/loanDepot-Announces-Pricing-of-Initial-Public-Offering/default.aspx
FOOTHILL RANCH, Calif., Feb. 11, 2021 /PRNewswire/ -- LD Holdings Group LLC today announced that its newly formed affiliate, loanDepot, Inc. ("loanDepot"), has priced its initial public offering of 3,850,000 shares of its Class A common stock ("Common Stock") at $14.00 per share. The offering consists of Common Stock being sold by loanDepot and Common Stock being sold by certain funds managed by Parthenon Capital Partners ("Selling Shareholders"). The shares are expected to begin trading today on the New York Stock Exchange, under the ticker symbol "LDI" and the offering is expected to close on February 16, 2021, subject to customary closing conditions.
loanDepot has granted the underwriters a 30-day option to purchase up to an additional 577,500 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions. loanDepot will use the net proceeds from the primary portion of the offering to purchase equity interests in LD Holdings Group LLC from certain unitholders. loanDepot will not receive any proceeds from the sale of Common Stock by the Selling Shareholders. The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering.
Goldman Sachs & Co. LLC, BofA Securities, Credit Suisse and Morgan Stanley are acting as lead book-running managers for the offering. Barclays, Citigroup, Jefferies and UBS Investment Bank are acting as book running managers, and JMP Securities, Nomura, Piper Sandler, Raymond James, William Blair and AmeriVet Securities are acting as co-managers for the offering.
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