The 2024 IPO market is here, and it’s kicking off the new year with a large deal. Smith Douglas Homes (SDHC) is scheduled to go public in the week ahead in what could be the year’s first US IPO.
Georgia-based homebuilder Smith Douglas plans to raise $150 million at a $1.0 billion market cap. Operating in the Southeastern and Southern US, the company builds and sells single-family homes, catering to first-time home buyers and empty nesters. The company saw solid growth in home sales in 2022, and elevated home prices helped its gross margin. Its business is fairly concentrated, with nearly half of 2022 revenue coming from Atlanta.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Smith Douglas Homes (SDHC) Woodstock, GA | $150M $1,009M | $18 - $21 7,692,308 | JP Morgan BofA |
| Homebuilder in the southeastern US focused on single-family homes. | |||
Relevant Profile: SDHC
https://www.renaissancecapital.com/IPO-Center/News/102642/US-IPO-Week-Ahead-Homebuilder-Smith-Douglas-plots-the-first-US-IPO-of-2024
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