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Middle-market asset manager CaliberCos sets proposed price at $5 ahead of $8 million IPO

January 19, 2023

CaliberCos, a middle-market asset manager focused on real estate and other alternatives, revised the terms for its upcoming IPO on Thursday.

The Scottsdale, AZ-based company now plans to raise $8 million by offering 1.6 million shares at $5. The company had previously filed to offer the same number of shares at a range of $5 to $6. At the proposed price, CaliberCos will raise 9% less in proceeds than previously anticipated.

CaliberCos describes itself as a vertically integrated asset management firm which offers middle-market investment funds, private syndications, and direct investments. The company markets its services to private investors, investment advisors, family offices and institutions, and in-house. As of September 30, 2022, Caliber had total fair value AUM of $686 million.

CaliberCos was founded in 2009 and booked $82 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol CWD. Revere Securities and Spartan Capital Securities are the joint bookrunners on the deal.