Rocket Companies $1.8 billion IPO and NYSE listing
Davis Polk advised the representatives of the several underwriters in connection with the initial public offering by Rocket Companies, Inc. of 100,000,000 shares of Rocket Companies’ Class A common stock for approximately $1.8 billion in total gross proceeds. The Class A common stock is listed on the New York Stock Exchange under the symbol “RKT.”
Rocket Companies, based in Detroit, is a technology and service-driven residential mortgage lender and servicer that has grown to become the nation’s largest mortgage originator through its flagship business, Rocket Mortgage. Rocket Companies also provides services in complementary industries, such as real estate, personal lending and auto sales.
The Davis Polk corporate team included partners Michael Kaplan and Shane Tintle and associates Angela Park, S. Elizabeth Kim and Wendy Li. The financial institutions team included partner Margaret E. Tahyar and associate Eric B. Lewin. Partner Patrick E. Sigmon provided tax advice. Counsel Daniel F. Forester provided intellectual property advice. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.