WCI Communities to Launch Initial Public Offering
WCI Communities, Inc. is one of Florida’s premier homebuilders of luxury new homes and gated communities. On July 16 WCI communities announced the launch of its IPO offering 8,410,000 shares of its common stock, 6,819,091 shares of which will be sold by the company and 1,590,909 shares of which will be sold by selling stockholders.
WCI has set the standard for exceptional homes and communities throughout Florida. They have developed dozens of master planned communities with currently over 150,000 residents enjoying their amenity rich lifestyles daily. WCI is committed to maintaining the highest quality construction and customer service all the while providing a full-service community complete with golf, resort style swimming and fitness, beautiful layouts and designer luxury homes. From beachfront homes to Lakeside, golf view homes and vacation properties, WCI communities is dedicated to maintaining a level of excellence in Southwest Florida. With a level of integrity, teamwork, and excellence, WCI is dedicated to enrich lives, create value and build quality communities and homes throughout Florida.
According to building online.com, “[WCI] expects to receive net proceeds of approximately $135.5 million from the offering and intends to use such proceeds for general corporate purposes, including the acquisition and development of land and home construction.” WCI features some of the coastal’s highest growth and largest market and has established a reputation for strong branding and amenity rich lifestyle communities.
The initial public offering price is currently expected to be between $21 and $23 per share of the common stock which has just currently been approved subject to official notice of issuance for listing on the New York Stock Exchange. Underwriters will have the option to purchase up to an additional 1,261,500 shares of common stock from the selling stockholders. Book running and co-managers of the offering will be groups such as Citigroup, Credit Suisse and J.P. Morgan.
For more information on WCI communities and the homes for sale therein call our offices anytime. [Source]
