Smith Douglas Homes Corp has announced its intention to go public, filing a registration statement with the US Securities and Exchange Commission for an initial public offering (IPO).
The company aims to offer 7.69 million shares at an estimated price range of $18 to $21 per share.
The Woodstock, Georgia-based home builder is set to raise approximately $150 million if the IPO hits the midpoint of the price range, according to reports.
The company is eyeing a valuation of $1.08 billion, the homebuilder said in a regulatory filing on Wednesday.
In the nine months ending Sept. 30, the company reported $93.5 million in net income and $547.3 million in revenue, compared to $99.14 million in net income and $531.9 million in revenue during the same period the previous year.
While the IPO is contingent on market conditions, Smith Douglas Homes has applied to list its common stock on the New York Stock Exchange under the ticker symbol ‘SDHC.’ The specific number of shares to be offered and the price range remain undetermined.
Headquartered in Atlanta, Smith Douglas Homes closed 2,200 homes in 2022, securing the 38th spot on the 2023 Builder 100, a climb from 43rd place the previous year when they closed 1,848 homes.