Legacy Housing, which builds, sells, and finances manufactured homes, announced terms for its IPO on Friday.
The Bedford, TX-based company plans to raise $41 million by offering 3.5 million shares at a price range of $10.75 to $12.75. At the midpoint of the proposed range, Legacy Housing would command a fully diluted market value of $276 million and an enterprise value of $300 million.
Legacy Housing was founded in 2005 and booked $169 million in sales for the 12 months ended September 30, 2018. It plans to list on the Nasdaq under the symbol LEGH. B. Riley FBR and Oak Ridge Financial are the joint bookrunners on the deal. It is expected to price during the week of December 10, 2018.
