Dream Finders Homes, a Florida-based homebuilder expanding nationally, announced terms for its IPO on Monday.
The Jacksonville, FL-based company plans to raise $130 million by offering 9.6 million shares at a price range of $12 to $15. Insider Boston Omaha Corp. intends to purchase $25 million worth of shares in the offering. At the midpoint of the proposed range, Dream Finders Homes would command a market value of $1.2 billion.
The company designs, builds, and sells homes in high growth markets, including Jacksonville, Orlando, Denver, the Washington D.C. metropolitan area and Austin, as well as Charlotte and Raleigh with the acquisition of H&H Homes in October 2020. The company focuses on single-family entry-level, first-time move-up and second-time move-up homes. It also offers title insurance and mortgage banking solutions to fully serve its homebuyer customers and capture ancillary business opportunities.
Dream Finders Homes was founded in 2008 and booked $1.2 billion in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol DFH. BofA Securities, RBC Capital Markets and BTIG are the joint bookrunners on the deal. It is expected to price during the week of January 18, 2021.
