"Tiny house" maker Legacy Housing sets terms for $41 million IPO

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Legacy Housing, which builds, sells, and finances manufactured homes, announced terms for its IPO on Friday.

The Bedford, TX-based company plans to raise $41 million by offering 3.5 million shares at a price range of $10.75 to $12.75. At the midpoint of the proposed range, Legacy Housing would command a fully diluted market value of $276 million and an enterprise value of $300 million. 

Legacy Housing was founded in 2005 and booked $169 million in sales for the 12 months ended September 30, 2018. It plans to list on the Nasdaq under the symbol LEGH. B. Riley FBR and Oak Ridge Financial are the joint bookrunners on the deal. It is expected to price during the week of December 10, 2018.

The article "Tiny house" maker Legacy Housing sets terms for $41 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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