Silicon Valley Business Journal
From the article:
San Jose-based homebuilder UCP, which announced IPO plans in April, today disclosed its pricing expectations.
In a SEC filing, UCP said it expects to issue 7.75 million shares of Class A common stock. UCP said it expects the shares to price at $15 to $17. The proposed maximum aggregate offering price could bring in $151.5 million, according to the company. A date for the IPO was not announced.
UCP LLC sells housing lots to larger homebuilders and also builds them itself under its homebuilding arm, Benchmark Communities LLC.
The company was started as Union Community Partners LLC in 2004 by President and CEO Dustin Bogue. In 2008, it was acquired by publicly traded PICO Holdings Inc. It entered the South Bay and Monterey market in 2009, and purchased East Garrison, a massive 1,400-unit project in the Salinas Valley.
Since it was acquired by PICO, UCP has invested more than $219.1 million for the acquisition, control and development of more than 6,000 single-family residential lots.
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