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Rocket Companies, the holding company which also includes Rocket Mortgage, confirmed that it filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock.
"Application has been made for listing the common stock on the New York Stock Exchange under the ticker symbol 'RKT,'" according to a press release. "The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering."
The release notes that while the statement has been filed with the SEC, it is not yet effective. Therefore, securities cannot be sold and offers to purchase may not be accepted prior to the registration or qualification.
This statement follows a report in early June, which revealed Quicken Loans' initial confidential IPO prospectus filing. The article stated that while the market has been seeing intense fluctuation due to the COVID-19 pandemic, mortgage rates have continued to hit historical lows and housing demand is gaining strength.
Read more about Rocket Companies' IPO filing with the SEC.