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LoanDepot, LLC recently announced that it has officially filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO).
A press release from the company noted that the IPO was filed on Form S-1 with the SEC relating to its Class A common stock. A registration statement on Form S-1 relating to these securities has been filed with the Commission but has not yet become effective.
LoanDepot also noted that the number of shares to be offered and the price range for the proposed offering have not yet been determined.
BMO Capital Markets is acting as co-manager for the proposed offering, the release stated. Morgan Stanley, Goldman, Sachs & Co., Wells Fargo Securities, Barclays, and UBS Investment Bank are acting as joint book-running managers for the proposed offering.
In connection with this offering, loanDepot, Inc. will become the parent company of loanDepot.com, LLC.
LoanDepot was not immediately available to provide a statement about the proposed IPO offering.
In August, loanDepot announced that it would now offer new home equity products, the first marketplace lender to offer consumers a varied selection of credit products through purchase and refinance home loans, unsecured personal loans, and now home equity loans on one convenient tech-enabled lending platform.
"This is a substantial step forward for consumers and marketplace lending after the financial crisis," said Anthony Hsieh, CEO and chairman of loanDepot, LLC. "It reaffirms our commitment of ushering in the next generation of lending that will empower borrowers and investors to connect through multiple products on our platform. Our vision is to deliver a diversified lending model sustainable in all market conditions. We look forward to leading the development of marketplace lending through the introduction of new products and services that provide credit solutions for borrowers with attractive returns for investors."
In addition, the company also launched personal loans just two months prior to the home equity announcement, which grew $40 million in funding volume in the first two months.
LoanDepot also intends to add about 1,000 employees to its 4,000+ employees, according to an announcement earlier this year.
