DETROIT (WXYZ) — Rocket Companies, Inc. announced Thursday the pricing of its initial public offering of 100 million shares of its Class A common stock at $18 per share.
The shares are expected to begin trading on the New York Stock Exchange on Aug. 6 under the ticker symbol "RKT," and the offering is expected to close on August 10.
The Detroit-based company founded by billionaire Dan Gilbert, "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."
According to a release from the company, Goldman Sachs & Co. LLC, Morgan Stanley, Credit Suisse, J.P. Morgan and RBC Capital Markets are acting as the lead bookrunners for the offering.
Allen & Company LLC, BofA Securities, Barclays, Citigroup and UBS Investment Bank are acting as bookrunners.
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 acting as co-managers for the offering.
The Securities and Exchange Commission declared a registration statement regarding this offering effective on Aug. 5.