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Entry-level homebuilder LGI Homes files for a $125 million IPO
By: Renaissance Capital
LGI Homes, an entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets, filed on Wednesday with the SEC to raise up to $125 million in an initial public offering. The Woodlands, TX-based company, which was founded in 2002 and booked $107 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol LGIH. LGI Homes initially filed confidentially on July 10, 2013. Deutsche Bank, JMP Securities and J.P. Morgan are the joint bookrunners on the deal. No pricing terms were disclosed.