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Quicken Loans files for an IPO, will be traded on NYSE as Rocket Companies

Startup companies in Detroit compete for share of $1 million in Quicken Loans challenge
Posted at 5:12 PM, Jul 07, 2020
and last updated 2020-07-07 17:17:10-04

(WXYZ) — Quicken Loans is going public. The company filed paperwork with the Securities and Exchange Commission Tuesday to offer an Initial Public Offering of stock.

The company will be known as Rocket Companies, Inc. and plans to be traded on the New York Stock Exchange under the RKT symbol.

No financial details on a price per share, or how many shares of stock may be issued are currently listed in the SEC filing.

Four classes of stock will be issued. Rock Holdings Inc., the parent company controlled by Dan Gilbert will control 79% of the combined voting power of the common stock. This will keep control of any action that needs the approval of stockholders with Rock Holdings.

This includes the election of a Board of Directors.