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WCI Communities prices IPO at $15, the low end of the downwardly revised range
By: Renaissance Capital
WCI Communities, which develops luxury residential communities and homes in coastal Florida, raised $102 million by offering 6.8 million shares (all primary) at $15, the low end of the downwardly revised range of $15 to $17. The company had originally planned to offer 8.4 million shares (19% insider) at $21 to $23. WCI Communities plans to list on the NYSE under the symbol WCIC. WCI Communities initially filed confidentially on 4/19/2013. Citi, Credit Suisse and J.P. Morgan acted as lead managers on the deal.