AmeriHome, a residential mortgage producer and servicer, withdrew its plans for an initial public offering on Thursday. It was announced earlier this week that the company would be acquired by Western Alliance Bancorp for approximately $1 billion. It originally filed to raise $250 million in October 2020, but postponed later that month. It revived its IPO plans earlier this year.
AmeriHome has created a flexible and scalable platform with a modern purpose-built infrastructure and advanced data and analytics capabilities. The company has grown its production volume 187% from 2015 and has positioned itself as the third largest correspondent producer.
The Thousand Oaks, CA-based company was founded in 1988 and booked $785 million in revenue for the 12 months ended September 30, 2020. It had planned to list on the NYSE under the symbol AHM. Credit Suisse, Goldman Sachs, J.P. Morgan, Wells Fargo Securities, Barclays, BofA Securities, Citi, RBC Capital Markets and UBS Investment Bank were set to be the joint bookrunners on the deal.
