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Texas-focused Reven Housing REIT sets terms for IPO that could raise $29 million

Reven Housing REIT, which will own 468 single-family homes in Florida, Texas and Tennessee, announced terms for its IPO on Tuesday.

The La Jolla, CA-based company plans to raise between $2.9 million and $29 million by offering a minimum of 0.5 million shares and a maximum of 5 million shares at a price of $5.75. Reven currently trades on the OTCQB and has a market cap of $63 million.

The company removed the sole bookrunner from the deal and is now marketing its IPO as a min-max, best efforts offering.

Reven Housing REIT, which was founded in 2012 and booked $7 million in sales for the 12 months ended December 31, 2014, plans to list on the Nasdaq under the symbol RVEN.

The article Texas-focused Reven Housing REIT sets terms for IPO that could raise $29 million 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , 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.


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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