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