{"id":1953,"date":"2021-01-29T21:18:03","date_gmt":"2021-01-29T21:18:03","guid":{"rendered":"https:\/\/frankbuysphilly.com\/homepoints-maria-fregosi-talks-ipo\/"},"modified":"2021-01-29T21:18:03","modified_gmt":"2021-01-29T21:18:03","slug":"homepoints-maria-fregosi-talks-ipo","status":"publish","type":"post","link":"https:\/\/frankbuysphilly.com\/homepoints-maria-fregosi-talks-ipo\/","title":{"rendered":"Homepoint\u2019s Maria Fregosi talks IPO"},"content":{"rendered":"


\n<\/p>\n

\"Maria<\/figure>\n

Home Point Financial, the parent company of wholesale lender Homepoint<\/strong>, joined the growing ranks of nonbank mortgage lenders listed on the public markets<\/a>. <\/p>\n

As HousingWire<\/strong> first reported Thursday night<\/a>, the company plans to raise $94.25 million on the NASDAQ Stock Exchange in its debut. <\/p>\n

The IPO is a secondary offering, meaning the company itself isn’t selling shares and will not receive proceeds. Shareholders from its private equity backer Stone Point Capital<\/strong> initially had hoped to raise $250 million by pricing 12.5 million shares<\/a> between $19 and $21. Instead, the IPO was downsized, with shareholders selling 5.3 million fewer common stock shares. <\/p>\n

HousingWire caught up with Homepoint’s Chief Investment Officer Maria Fregosi to talk about the lender’s debut, its long-term goals, the investor appetite for the wholesale market, the position of its private equity backer Stone Point Capital, what the appointment of former Fannie Mae<\/strong> executive Andrew Bon Salle as chairman signifies for the company, and much more. <\/p>\n

The interview has been lightly edited for length and clarity. <\/em><\/p>\n

HousingWire:<\/strong> Congrats on the debut, Maria. Can you clarify the terms of the offering? It looks like $94 million is being raised, with 7.25 million shares priced at $13.00?<\/p>\n

Maria Fregosi:<\/strong> Yeah, there’s an additional optional 1.875 million, so it could be as much as 108. <\/p>\n

HW:<\/strong> Home Point Capital downsized the IPO. Can you talk about the thought process behind that?<\/p>\n

MF:<\/strong> We felt it was very important for us and, really, for the mortgage industry, that Homepoint take this first step to go public. We wanted to make sure that we had a successful offering, so we adjusted the offering size to a level that made sense and allowed us to achieve our main goal of getting into the public market.<\/p>\n

HW:<\/strong> Do you know at this point what that puts your market cap at? <\/p>\n

MF:<\/strong> It’s going to be around $2 billion-ish. Around there.<\/p>\n

HW:<\/strong> Can you talk about how the proceeds are used? <\/p>\n

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The post Homepoint’s Maria Fregosi talks IPO<\/a> appeared first on HousingWire<\/a>.<\/p>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Home Point Financial, the parent company of wholesale lender Homepoint, joined the growing ranks of nonbank mortgage lenders listed on the public markets. As HousingWire first reported Thursday night, the company plans to raise $94.25 million on the NASDAQ Stock Exchange in its debut. The IPO is a secondary offering, meaning the company itself isn’t […]<\/p>\n","protected":false},"author":2,"featured_media":1954,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,1],"tags":[],"_links":{"self":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/posts\/1953"}],"collection":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/comments?post=1953"}],"version-history":[{"count":0,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/posts\/1953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/media\/1954"}],"wp:attachment":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/media?parent=1953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/categories?post=1953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/tags?post=1953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}