logo
Share SHARE
FONT-SIZE Plus   Neg

Nationstar Mortgage Prices IPO At $14/share, Below Estimated Range

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Health IQ Insurance Services, a startup focused on providing life insurance for health-conscious individuals, said it has secured $34.6 million in Series C funding, led by Andreessen Horowitz. To date, the company has raised a total of $81 million in funding mostly from its existing investors. General Motors Co. is recalling nearly 49,000 trucks worldwide to fix a fuel tank issue that can increase the risk of a fire. The recall covers Chevrolet Silverado 3500 and GMC Sierra 3500 trucks from the 2011 through 2015 model years, all equipped with dual fuel tanks. Meredith Corp. is reportedly in talks for the acquisition of Time Inc, with a staunch support from billionaire brothers Charles and David Koch. Des Moines-based Meredith is the publisher of Family Circle and Better Homes and Gardens and aims to acquire the publisher of Time, People and Fortune Magazines.
comments powered by Disqus
Follow RTT