HF Enterprises, a holdco with investments in real estate, tech, and healthcare in the US and Asia-Pacific, narrowed the range for its upcoming IPO on Friday.
The Bethesda, MD-based company now plans to raise $17 million by offering 2.6 million shares at a price range of $6 to $7. The company originally filed in December 2019 and planned to offer the same number of shares at a range of $6 to $8. At the midpoint of the revised range, HF Enterprises will raise -7% less in proceeds to command a market value of $59 million (-33% vs. original midpoint due to the surrender and cancellation of 3.6 million shares).
HF Enterprises was founded in 2014 and booked $15 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol HFEN. WestPark Capital is the sole bookrunner on the deal
