The landscape of the Atlanta homebuilding industry may soon experience a notable shift, as Smith Douglas Homes Corp., one of the fastest-growing private homebuilders in the nation, announced the launch of the initial public offering today (January 8, 2024) of 7,692,308 shares of its Class A common stock. The initial public offering price is currently expected to be between $18.00 and $21.00 per share. Smith Douglas expects to grant the underwriters a 30-day option to purchase up to an additional 1,153,846 shares of its Class A common stock at the initial public offering price, less the underwriting discount. Smith Douglas has applied to list its common stock on the New York Stock Exchange under the ticker symbol “SDHC.”
J.P. Morgan, BofA Securities, RBC Capital Markets, Wells Fargo Securities, Wolfe | Nomura Alliance and Zelman Partners LLC are acting as joint book-running managers for the proposed offering. Fifth Third Securities, Regions Securities LLC, Wedbush Securities and Whelan Advisory Capital Markets are acting as co-managers.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering may be obtained from: J.P. Morgan, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204 or email: prospectus-eq_fi@jpmchase.com; BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department or email: dg.prospectus_requests@bofa.com; RBC Capital Markets, Attn: Prospectus Department, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281, telephone: (877) 822-4089; Wells Fargo Securities, LLC, 500 West 33rd Street, New York, New York, 10001, telephone: 1-800-326-5897 or email: cmclientsupport@wellsfargo.com.
A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The initial public offering is subject to market and other conditions and the completion of the SEC’s review process.
A Glimpse into Smith Douglas
Originating from Atlanta, Georgia, Smith Douglas Homes stands tall as one of the most rapidly expanding private homebuilders in the country based on the number of closings. In its illustrious journey, the firm has catered to over 13,000 families, realizing their dreams of a new home.
A top 25 Atlanta home builder , as ranked by MarketNsight and Atlanta Real Estate Forum, Smith Douglas Homes has secured a position in the top 50 national builders for multiple years. The home builder recorded 2,200 closings in 2022, cementing its #38 position in the rankings. The company’s key demographic includes entry-level buyers and empty-nesters in metro regions such as Atlanta, Birmingham, Charlotte, Houston, Huntsville, Nashville, and Raleigh.
Smith Douglas promises its customers an experience of “affordable luxury,” providing new homes at competitive prices below the FHA loan limit.
It remains to be seen how this new development will shape the future of Smith Douglas and the broader homebuilding industry. With a strong legacy and impressive track record, this Initial Public Offering announcement has garnered significant interest from industry stakeholders and investors alike.
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