© Reuters.
ATLANTA – Smith Douglas Homes Corp., a rapidly expanding private homebuilder, has set the initial public offering (IPO) price for its Class A common stock at $21 per share. The company announced today that it will offer 7,692,308 shares, with an additional option for underwriters to purchase up to 1,153,846 more shares within 30 days.
The shares are slated to commence trading on the New York Stock Exchange under the ticker symbol “SDHC” on Thursday, with the offering expected to conclude by Monday, January 16, 2024, pending standard closing conditions.
A group of financial institutions, including J.P. Morgan, BofA Securities, RBC Capital Markets, Wells Fargo Securities, Wolfe | Nomura Alliance, and Zelman Partners LLC, are managing the book-running aspects of the offering. Co-managers for the IPO include Fifth Third Securities, Regions Securities LLC, Wedbush Securities, and Whelan Advisory Capital Markets.
This IPO follows the effectiveness of a registration statement by the Securities and Exchange Commission on January 10, 2024. The offering is available through a prospectus, which interested parties can obtain from the aforementioned financial institutions.
Smith Douglas, headquartered in Atlanta, Georgia, is recognized for its fast growth in terms of home closings. Catering primarily to entry-level and empty-nest buyers, the company has served over 13,000 families and completed 2,200 closings in 2022. It currently ranks #38 on the Builder Magazine Top 100 list and operates in several metropolitan areas including Atlanta, Birmingham, Charlotte, Houston, Huntsville, Nashville, and Raleigh.
The press release clarifies that the offering of securities will comply with the registration requirements of the U.S. Securities Act of 1933, as amended, and that the securities will not be sold in jurisdictions where such sale would be unlawful without registration or qualification under the securities laws of such state or jurisdiction.
This news article is based on a press release statement from Smith Douglas Homes Corp.
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