loanDepot $62 million IPO
Davis Polk advised the joint book-running managers and representatives of the underwriters in connection with the $62 million initial public offering of 4,427,500 shares of common stock by loanDepot, Inc. and certain selling stockholders, which included 577,500 shares from the full exercise of the underwriters’ option to purchase additional shares from loanDepot and the selling stockholders. The common stock is listed on the New York Stock Exchange under the symbol “LDI.”
Founded in 2010, loanDepot is a customer-centric and technology-empowered residential mortgage platform. Its operations currently consist of three different verticals: origination of conventional and government mortgage loans; servicing conventional and government mortgage loans; and providing a growing suite of ancillary services. loanDepot ranks as one of the nation’s largest retail mortgage originators and the second-largest nonbank retail mortgage originator overall.
The Davis Polk capital markets team included partners Michael Kaplan and Yasin Keshvargar, counsel Joseph S. Payne and associate Stephen H. Karp. Partner Michael Farber and associate Talya Presser provided tax advice. Partner Margaret E. Tahyar and associate Greg Swanson provided financial institutions advice. Counsel Daniel F. Forester provided intellectual property advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and Washington DC offices.