Preston Hollow Community Capital, which provides specialized financing for social and economic projects, announced terms for its IPO on Wednesday.
The Dallas, TX-based company plans to raise $200 million by offering 10.5 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Preston Hollow Community Capital would command a fully diluted market value of $2.3 billion.
Preston Hollow Community Capital is a market leader in providing specialized impact financing solutions for projects of significant social and economic importance to local communities in the United States. Their strategy is focused on producing attractive risk-adjusted total returns from the direct origination and structuring of debt financings, primarily in the form of tax-exempt municipal bonds or loans, in transactions that deliver meaningful social impact across a broad range of project types that are not easily financed through traditional lending channels.
Preston Hollow Community Capital was founded in 2014 and booked $150 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol PHCC. J.P. Morgan, Barclays, UBS Investment Bank, and Piper Sandler are the joint bookrunners on the deal. It is expected to price during the week of July 26, 2021.
