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