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Home Point Capital, the parent company of Homepoint, filed a registration statement Form S-1 to commence an initial public offering of 12.5 million shares of its common stock to be sold by certain stockholders, according to a press release.
The company anticipates the IPO price to be between $19 and $21 per share, pursuant to a registration statement on Form S-1, previously filed with the U.S. Securities and Exchange Commission.
"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," according to a press release.
"Home Point Capital is not selling any shares in the offering. In connection with the offering, the selling stockholders expect to grant the underwriters a 30-day option to purchase an aggregate of 1,875,000 shares of Home Point Capital’s common stock. Home Point Capital has applied to list its common stock on the NASDAQ Global Select Market under the ticker symbol 'HMPT.'"
The company will not receive any net proceeds from sales of its common stock by selling stockholders. This includes any exercise by underwriters of their option to purchase additional shares of the common stock.
Goldman Sachs & Co. LLC, Wells Fargo Securities, Morgan Stanley and UBS Investment Bank are acting as lead book-running managers for the proposed offering. Credit Suisse, J.P. Morgan and BofA Securities are also acting as bookrunning managers for the proposed offering. JMP Securities, Piper Sandler & Co., R. Seelaus & Co., LLC, SPC Capital Markets LLC, Wedbush Securities and Zelman Partners LLC are acting as co-managers for the proposed offering.
While a registration statement has been filed, they have not yet become effective.