Mortgage insurance company NMI Holdings sets terms for $25 million IPO
NMI Holdings, which provides private mortgage insurance,
announced terms for its IPO on Friday. The Emeryville, CA-based
company plans to raise $25 million by offering 2.1 million shares
at a price range of $11 to $13. At the midpoint of the proposed
range, NMI Holdings would command a fully diluted market value of
NMI Holdings, which was founded in 2011 and booked $2 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol NMIH. FBR Capital Markets is the sole bookrunner on the deal.