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Rocket Mortgage Parent Company Files for $100 Million US IPO

CY Seah
Esther Thin

Rocket Companies, the parent company of Rocket Mortgage, a leading mortgage lender, has filed Form S-1 Registration Statement on July 7, 2020 with the U.S. Securities and Exchange Commission to raise up to $100 million in an IPO. Pricing terms are yet to announce. The deal could raise up to $3 billion.

The company operates Rocket Mortgage, an online platform for applying for a mortgage. and has also expanded into real estate services, personal lending, and auto sales.

The Detroit, Michigan-based company was founded in 1985 and booked $5.9 billion in revenue for the 12 months ended December 31, 2019. It intends to list on the NYSE under the symbol “RKT.” Goldman Sachs, Morgan Stanley, Credit Suisse, J.P. Morgan and RBC Capital Markets are underwriters of the IPO.

The company engages Paul, Weiss, Rifkind, Wharton & Garrison LLP as US Securities Counsel, and Ernst & Young LLP as Independent Auditor.

#ipo #nyse #RocketMortgage #RocketCompanies #million #mortgage #loan




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