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JGWPT Holdings now plans to price at $14, below original $19-$22 range

By: Renaissance Capital
Posted: 11/8/2013 6:31:00 AM
Referenced Stocks: JGW

JGWPT Holdings, which buys structured settlement payment streams under the JG Wentworth and Peachtree brands, lowered the proposed deal size again for its upcoming IPO on Friday. The Radnor, PA-based company now plans to raise $137 million by offering 9.8 million shares at a price of $14. The company had originally intended to sell 12.2 million shares at $19-$22 before filing to sell 9.8 million shares at a range of $15-$16 on Thursday. The stock is expected to begin trading on the NYSE under the symbol JGW today. Barclays, Credit Suisse, Deutsche Bank, Jefferies and Keefe, Bruyette & Woods are the joint bookrunners on the deal.