Home Point Capital, a wholesale residential mortgage producer and servicer, announced terms for its IPO on Friday.
The Ann Arbor, MI-based company plans to raise $250 million by offering 12.5 million shares (100% secondary) at a price range of $19 to $21. At the midpoint of the proposed range, Home Point Capital would command a fully diluted market value of $3.0 billion.
Home Point Capital is a residential mortgage originator and servicer with a main focus of leveraging its nationwide network of partner relationships to drive sustainable origination growth. The company utilizes a wholesale mortgage origination channel, which connects it with nearly 5,000 broker partners and allows it to serve roughly 300,000 customers.
Home Point Capital was founded in 2014 and booked $1.0 billion in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol HMPT. Goldman Sachs, Wells Fargo Securities, Morgan Stanley, UBS Investment Bank, Credit Suisse, J.P. Morgan, and BofA Securities are the joint bookrunners on the deal. It is expected to price during the week of January 25, 2021.
