Nationstar Mortgage Holdings, a non-bank residential mortgage loan servicer, announced the pricing of the initial public offering of 16.67 million shares of its common stock at $14.00 per share, below its expected range.
In an amended regulatory filing with the U.S. Securities and Exchange Commission on March 6, the company had estimated pricing between $17.00 and $19.00 per share.
Lewisville, Texas-based company said the shares will begin trading on Thursday, March 8, 2012 on The New York Stock Exchange under the ticker symbol "NSM."
The underwriters have a 30-day option to purchase up to an additional 2.5 million shares of common stock, to cover over-allotments, if any.
BofA Merrill Lynch, Citigroup, Credit Suisse and Wells Fargo Securities are acting as joint bookrunners for the offering, and Allen & Company LLC, Barclays Capital, J.P. Morgan, Keefe, Bruyette & Woods and Sterne Agee are acting as co-managers.
As of December 31, 2011, it has serviced more than 645,000 residential mortgage loans worth $106.6 billion, the company said in its filing.
For the year 2011, the Nationstar swung to a $20.9 million profit and reported Revenue of $378 million.
Click here to receive FREE breaking news email alerts for National Semiconductor and others in your portfolio
by RTT Staff Writer
For comments and feedback: email@example.com