Preston Hollow Community Capital, which provides specialized financing for social and economic projects, postponed its IPO on Thursday. It had filed to raise $200 million by offering 10.5 million shares at a price range of $18 to $20.
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.
The Dallas, TX-based company was founded in 2014 and booked $150 million in revenue for the 12 months ended March 31, 2021. It had planned to list on the NYSE under the symbol PHCC. J.P. Morgan, Barclays, UBS Investment Bank, and Piper Sandler were set to be the joint bookrunners on the deal.
