JGWPT Holdings decreases proposed IPO deal size

By Renaissance Capital,

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JGWPT Holdings, which buys structured settlement payment streams under the JG Wentworth and Peachtree brands, lowered the proposed deal size for its upcoming IPO on Thursday. The Radnor, PA-based company now plans to raise $151 million by offering 9.8 million shares at a price range of $15 to $16. The company had previously filed to offer 12.2 million shares at a range of $19 to $22. At the midpoint of the revised range, JGWPT Holdings will raise 40% fewer proceeds than previously anticipated. JGWPT Holdings, which was founded in 1988 and booked $484 million in sales for the 12 months ended 6/30/2013, plans to list on the NYSE under the symbol JGW. Barclays, Credit Suisse, Deutsche Bank and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of November 4, 2013.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: JGW

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