loanDepot’s $62 Million Initial Public Offering

Davis Polk advised the joint book-running managers and representatives of the underwriters in the offering.

The $62 million initial public offering of 4,427,500 shares of common stock by loanDepot, Inc. and certain selling stockholders, included 577,500 shares from the full exercise of the underwriters’ option to purchase additional shares from loanDepot and the selling stockholders. The common stock is listed on the New York Stock Exchange under the symbol “LDI.”

Goldman Sachs & Co. LLC, BofA Securities, Credit Suisse and Morgan Stanley acted as lead book-running managers for the offering. Barclays, Citigroup, Jefferies and UBS Investment Bank acted as book running managers, and JMP Securities, Nomura, Piper Sandler, Raymond James, William Blair and AmeriVet Securities acted as co-managers for the offering.

Founded in 2010, loanDepot is a customer-centric and technology-empowered residential mortgage platform. Its operations currently consist of three different verticals: origination of conventional and government mortgage loans; servicing conventional and government mortgage loans; and providing a growing suite of ancillary services. loanDepot ranks as one of the nation’s largest retail mortgage originators and the second-largest nonbank retail mortgage originator overall.

The Davis Polk capital markets team included partners Michael Kaplan (Picture) and Yasin Keshvargar, counsel Joseph S. Payne and associate Stephen H. Karp. Partner Michael Farber and associate Talya Presser provided tax advice. Partner Margaret E. Tahyar and associate Greg Swanson provided financial institutions advice. Counsel Daniel F. Forester provided intellectual property advice. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: Michael Farber – Davis Polk & Wardwell; Daniel Forester – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; Stephen Karp – Davis Polk & Wardwell; Yasin Keshvargar – Davis Polk & Wardwell; Joseph Payne – Davis Polk & Wardwell; Talya Presser – Davis Polk & Wardwell; Greg Swanson – Davis Polk & Wardwell; Margaret Tahyar – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: AmeriVet Securities; Bank of America Securities; Barclays Capital ; Citigroup Global Markets Ltd; Credit Suisse; Goldman Sachs & Co.; Jefferies; JMP Securities LLC; Morgan Stanley; Nomura; Piper Sandler; Raymond James & Associates, Inc.; UBS Investment Bank; William Blair & Company, L.L.C.;

Author: Martina Bellini