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Preston Hollow Launches IPO of Common Stock
Preston Hollow Community Capital Inc. recently launched an initial public offering of its class-A common stock. Preston Hollow is expected to be approved for listing on the New York Stock Exchange under the ticker symbol PHCC, subject to official notice of issuance.
Preston Hollow is offering 10,526,316 shares of Class A common stock to the public at an initial price between $18.00 and $20.00 per share. Preston Hollow further intends to grant the underwriters the option to purchase up to 1,578,947 additional shares of Class A common stock from Preston Hollow at the initial public offering price, less the underwriting discount, within 30 days after the date of this prospectus. The offering is subject to market conditions.
J.P. Morgan and Barclays are acting as joint book-running managers of the offering and as representatives of the underwriters. UBS Investment Bank and Piper Sandler are also acting as joint book-running managers, and Deutsche Bank Securities and Loop Capital Market are acting as co-managers.
- ◦Financing
