Homebuilder Smith Douglas prices IPO at $21 a share, at top of range


Smith Douglas Homes Corp. 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. Shares are expected to start 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 IPO’s joint book-running managers.

Atlanta-based Smith Douglas is one of the country’s fastest-growing private homebuilders, focusing primarily on entry-level and empty-nest homes in Southern metro areas.

 Smith Douglas Homes reported $93.5 million in net income and $547.3 million in revenue in the nine months ending Sept. 30, compared to net income of $99.14 million and revenue of $531.9 million in the year-ago period.

MarketWatch’s Steve Gelsi contributed to this report.

Las Vegas News Magazine

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