Walker & Dunlop, Inc. (NYSE: WD), a provider of commercial real estate financial services focused on multifamily lending, has announced the pricing of its initial public offering. The offering is 10 million shares of common stock at a price of $10.00 per share. Of the offering, the company is offering 6,666,667 shares of common stock and selling holders are offering 3,333,333 shares.
This appears to be a price well below its indicated range. When we looked at the price range expected, that was originally the 10 million shares but the expected price range was $14.00 to $16.00 per share.
Credit Suisse Securities, Keefe Bruyette & Woods, and Morgan Stanley are listed as the joint book-running managers; co-managers are listed as William Blair, JMP Securities, and Stifel Nicolaus. The underwriting syndicate has been granted a 30-day option to purchase up to an additional 1,500,000 shares at the initial public offering price to cover overallotments, if any.
You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.
JON C. OGG
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.