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LD Holdings Group, LLC announced its affiliate loanDepot, Inc. priced its initial public offering of 3,850,000 shares of its Class A common stock at $14.00 per share.
According to a press release, the offering consists of common stock being sold by loanDepot and common stock being sold by certain funds managed by Parthenon Capital Partners. Shares are expected to go live under the LDI symbol on the New York Stock Exchange. The offering is expected to close on Feb. 16, 2021, subject to customary closing conditions.
loanDepot has granted the underwriters a 30-day option to purchase up to an additional 577,500 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions, according to the release. The company will use the net proceeds from the primary portion of the offering to purchase equity interests in LD Holdings Group LLC from certain unitholders. loanDepot will not receive any proceeds from the sale of Common Stock by the Selling Shareholders. 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.