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Mortgage insurance company NMI Holdings sets terms for $25 million IPO

By: Renaissance Capital
Posted: 11/1/2013 8:50:00 AM
Referenced Stocks: NMIH

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 $715 million.

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.