TRI Pointe Homes, a Starwood-backed single-family homebuilder in California, raised the proposed deal size for its upcoming IPO on Tuesday. The Irvine, CA-based company now plans to raise $205 million by offering 13.7 million shares (27% insider) at a price range of $14 to $16. The company had previously filed to offer 11.7 million shares. At the midpoint of the revised range, TRI Pointe Homes will raise 17% greater proceeds than previously anticipated.
TRI Pointe Homes, which was founded in 2009 and booked $27 million in sales for the 12 months ended 9/30/2012, plans to list on the NYSE under the symbol TPH. Citi, Deutsche Bank and FBR Capital Markets are the joint bookrunners on the deal.
