Rocket Companies announces launch of IPO
Detroit-based Rocket Companies announced plans to commence the roadshow for its proposed IPO. Founded by Dan Gilbert, tech-driven Rocket Companies provides industry-leading real estate, mortgage and financial services, empowering consumers through entities including Rocket Homes, Rocket Auto and Rocket Mortgage, the nation’s largest mortgage lender.
Rocket Companies has filed a registration statement on Form S-1 with the Securities and Exchange Commission (“SEC”) to offer 150,000,000 shares of its Class A common stock to the public. Rocket Companies also intends to grant the underwriters a 30-day option to purchase additional shares of Class A common stock from Rocket Companies. The initial public offering price is expected to be between $20 and $22 per share. Rocket Companies has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol “RKT.” The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering.