CaliberCos said Tuesday that it has priced its initial public offering at $4 a share.
The Scottsdale, Ariz.-based company is a vertically integrated alternative asset manager aiming to build generational wealth for investors.
The size and price of the offering have fluctuated since Caliber filed in September with the Securities and Exchange Commission to list 1.6 million shares at a price of $5 to $6 apiece. In March, the company resized the offering to 1.2 million shares at an expected price of $5 each. On May 10, Caliber said it would be offering 800,000 shares at the same expected price.
On Tuesday, Caliber said it would offer 1.2 million shares and has given underwriters an option to buy up to 15% of additional shares of Class A common stock.
Caliber said it plans to use the proceeds to increase its capitalization and facilitate future access to the capital markets.
The company expects its shares will begin trading on the Nasdaq Capital Market under the symbol CWD on Wednesday.
This story originally appeared on Marketwatch
