Five Point Holdings, which owns and develops master-planned communities in coastal California, raised $294 million by offering 21 million shares at $14, well below the range of $18 to $20. Five Point plans to list on the NYSE under the symbol FPH. Citi, J.P. Morgan, RBC Capital Markets, Wells Fargo Securities, Deutsche Bank, Evercore ISI, Zelman Partners LLC and JMP Securities acted as lead managers on the deal.
