Smith Douglas Homes priced its initial public offering at $21 a share late Wednesday, at the high point of its estimated range.
The homebuilder plans to offer 7.69 million shares, raising about $161.5 million. The shares are expected to begin trading Thursday on the New York Stock Exchange under the ticker symbol “SDHC.”
JPMorgan, BofA Securities, RBC Capital Markets and Wells Fargo Securities are the joint book-running managers for the IPO.
Smith Douglas, based in Atlanta, is one of the nation's fastest-growing private homebuilders, primarily focused on starter homes and empty-nesters in southern metro areas.
Smith Douglas Homes reported $93.5 million net income and $547.3 million in revenue in the nine months ended Sept. 30, compared with net income of $99.14 million and $531.9 million in revenue in the same period a year ago.
MarketWatch's Steve Gelsey contributed to this report.
