Stonegate's IPO Going for $16 per Share

Stonegate Mortgage Corporation announced the pricing of its initial public offering of 7,100,000 shares of common stock at a price to the public of $16 per share. The company has granted the underwriters a 30-day option to purchase up to 1,065,000 additional shares at the initial public offering price less the underwriting discount. The company’s common stock began trading on the New York Stock Exchange under the symbol “SGM” on Oct. 10, 2013. The offering is expected to close on Oct. 16, 2013, subject to customary closing conditions. BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Barclays Capital Inc. and FBR Capital Markets & Co. are acting as joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. and Sterne, Agee & Leach, Inc. are acting as co-managers.