loanDepot, a nonbank consumer lender focused on originating and selling home loans, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. However, the deal size may be a placeholder for an IPO that we estimate could raise $200 million.
The Foothill Ranch, CA-based company, which was founded in 2010 and booked $790 million in net revenue for the 12 months ended June 30, 2015, plans to list on the NYSE under the symbol [LDI]. loanDepot filed confidentially on August 31, 2015. Morgan Stanley, Goldman Sachs,...more
CPI Card Group, the largest US provider of plastic credit and debit cards, again lowered the proposed deal size for its upcoming IPO on Thursday. The Littleton, CO-based company now plans to raise $150 million by offering 15 million shares (all primary) at a price of $10. The company had originally planned to sell 17.6 million shares (49% from insiders) at $16-$18, before cutting the deal size on Wednesday to 16 million shares (24% from insiders) at $12-$13. At the new terms, the expected primary proceeds remain roughly unchanged at $150 millio...more
Allegiance Bancshares, a commercial bank with 16 locations in Houston and $2 billion in assets, raised $55 million by offering 2.6 million shares at $21, below the range of $22 to $24. Allegiance Bancshares plans to list on the Nasdaq under the symbol [ABTX]. Baird and Stephens Inc. acted as lead managers on the deal....more
CytomX Therapeutics, a preclinical biotech developing tumor-activated cancer immunotherapies, raised $80 million by offering 6.7 million shares at $12, below the range of $14 to $16. CytomX Therapeutics plans to list on the Nasdaq under the symbol [CTMX]. CytomX Therapeutics initially filed confidentially on 7/24/2015. BofA Merrill Lynch, Jefferies and Cowen & Company acted as lead managers on the deal....more