AssetMark Financial Holdings, which provides a wealth management platform for independent financial advisers, announced terms for its IPO on Monday.
The Concord, CA-based company plans to raise $250 million by offering 12.5 million shares (50% insider) at a price range of $19 to $21. At the midpoint of the proposed range, AssetMark Financial Holdings would command a market value of $1.4 billion.
AssetMark Financial Holdings was founded in 1994 and booked $371 million in revenue for the 12 months ended March 31, 2019. It plans to list on the NYSE under the symbol AMK. J.P. Morgan, Goldman Sachs, Credit Suisse and Huatai Securities are the joint bookrunners on the deal. It is expected to price during the week of July 15, 2019.
