Caliber Home Loans withdraws IPO plans, that were originally filed 13 months ago

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Caliber Home Loans Inc. requested Monday that the Securities and Exchange Commission withdraw its filing for an initial public offering. The company originally filed for its IPO on Oct. 2, 2020, with the latest indication of the IPO terms filed on Oct. 21, 2020. Under those terms, the Texas-based mortgage originator looked to raise up to $368.0 million and be valued at up to $1.91 billion. On Jan. 21, 2021, the company filed an amendment to its IPO filing, in which the company removed the IPO terms provided three months earlier. Caliber Home’s IPO withdrawal comes amid concerns over a slowing housing market after data showing that pending home sales fell 2.3% in September, while economists were projecting a 1% increase. In addition, the Renaissance IPO ETF IPO, -0.75% has gained just 5.0% year to date, while the S&P 500 SPX, -0.00% has rallied 24.5%.

This article was originally published by Marketwatch.com. Read the original article here.

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