Rocket Trims IPO By 39 Pct From $3.3B To $2B After Investors Reject Valuation
PYMNTS
AUGUST 5, 2020
The 39 percent reduction came as investors rejected the company’s valuation, noting it should be priced as a consumer or financial company rather than a technology business, one of the sources said, according to Bloomberg. Rocket describes itself as the largest retail mortgage lender in the U.S. which is owned by Gilbert.
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