IPOs

Specialty funding solutions provider Preston Hollow Community Capital sets terms for $200 million IPO

Preston Hollow Community Capital, which provides specialized financing for social and economic projects, announced terms for its IPO on Wednesday.

The Dallas, TX-based company plans to raise $200 million by offering 10.5 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Preston Hollow Community Capital would command a fully diluted market value of $2.3 billion.

Preston Hollow Community Capital is a market leader in providing specialized impact financing solutions for projects of significant social and economic importance to local communities in the United States. Their strategy is focused on producing attractive risk-adjusted total returns from the direct origination and structuring of debt financings, primarily in the form of tax-exempt municipal bonds or loans, in transactions that deliver meaningful social impact across a broad range of project types that are not easily financed through traditional lending channels.

Preston Hollow Community Capital was founded in 2014 and booked $150 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol PHCC. J.P. Morgan, Barclays, UBS Investment Bank, and Piper Sandler are the joint bookrunners on the deal. It is expected to price during the week of July 26, 2021.

The article Specialty funding solutions provider Preston Hollow Community Capital sets terms for $200 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.

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