IMH Plans Initial Stock Offering
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SANTA ANA HEIGHTS — IMH Commercial Holdings Inc., formerly Imperial Credit Commercial Holdings Inc., firmed up its initial public stock offering, saying it will issue 5 million shares of common stock at a price range of $14 to $16 a share.
Last month, the commercial mortgage company said it planned to offer up to 7 million shares at $15 each.
IMH said Friday that it has also granted the transactions’ underwriters an option to purchase up to 750,000 additional common shares to cover over-allotments, if necessary. PaineWebber Group Inc., Stifel Nicolaus & Co., Everen Securities Inc. and Oppenheimer & Co. will underwrite the transaction.
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