Rocket Companies IPO: 10 Things for RKT Stock Investors to Know

The Rocket Companies (NYSE:RKT) IPO is underway and RKT stock is on the rise as investors take interest in the lending company.

Rocket Companies (RKT) Mortgage company on smartphone in dark room

Source: Lori Butcher / Shutterstock.com

Here’s what potential investors in Rocket Companies need to know about it and the IPO.

  • The IPO started today and is set to close on Aug. 10.
  • The company’s stock is trading on the New York Stock Exchange under the “RKT” stock ticker.
  • It has the company offering 100 million shares of its Class A common stock for a price of $18 per share.
  • That has the total money Rocket Companies could gain from the IPO sitting at $1.8 billion.
  • Leads book-runners for the Rocket Companies IPO are Goldman Sachs & Co. LLC, Morgan Stanley, Credit Suisse, J.P. Morgan and RBC Capital Markets.
  • Other book-runners for the IPO includes Allen & Company LLC, BofA Securities, Barclays, Citigroup and UBS Investment Bank.
  • CastleOak Securities, L.P., Drexel Hamilton, Fifth Third Securities, Huntington Capital Markets, Loop Capital Markets, Mischler Financial Group, Inc., Nomura, Ramirez & Co., Inc., Siebert Williams Shank and Zelman Partners LLC are serving as co-managers of the IPO.
  • Rocket Companies is a holding company that owns loan service companies for various markets.
  • That includes homes, mortgages, and automobiles.
  • It’s also worth pointing out that Rocket Companies is the parent company of Quicken Loans.

RKT stock was up 17.2% as of Thursday afternoon after experiencing a short dip when the stock launched this morning.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/08/rocket-companies-ipo-things-to-know/.

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