Imperial Holdings, a specialty finance firm originating loans collateralized by life insurance policies, lowered the proposed deal size for its upcoming IPO on Monday. The Boca Raton, FL-based company now plans to raise $183 million by offering 16.7 million shares at a price range of $10 to $12. The company had previously filed to offer its shares at a range of $14 to $16. At the mid-point of the revised range, Imperial Holdings will raise -27% fewer proceeds than previously anticipated. Imperial Holdings, which was founded in 2006 and booked $97 million in sales last year, plans to list on the NYSE under the symbol IFT. FBR Capital Markets, JMP Securities and Wunderlich Securities are the lead underwriters on the deal, which is expected to price this week.
