FivePoint’s IPO could raise $522 million


FivePoint Holdings, developer of Newhall Ranch, could raise nearly $522 million in an initial public offering, according to an amended prospectus filed with the Securities and Exchange Commission Monday.

The Aliso Viejo-based company plans to issue between 21 million and 24 million shares of Class A stock at a price of between $18 and $20 a share.

If all shares are sold at the midpoint price of $19 a share, FivePoint will raise $421.6 million after underwriting and other expenses. Lennar Homes has an option to invest an additional $100 million in a private offering, bringing total proceeds to $521.6 million.

Lennar, FivePoint’s largest investor, owned 45 percent of its shares as of Dec. 31, 2016, according to the filing.

If the IPO is successful, the company will trade on the New York Stock Exchange under the ticker symbol FPH.


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