The company’s leadership team mainly comprises executives from Quicken Loans. Rocket is also going public as the mortgage industry has seen millions of homeowners request forbearance on their monthly loan payments amid record levels of unemployment. Which returned to public markets in June after nine years of being private, and online insurer Lemonade Recent offerings include Warner Music Group Corp.
Rocket’s IPO comes as the broader IPO market has kicked into high gear after a long dry spell as a result of the coronavirus pandemic. Proceeds from the IPO will be used to purchase businesses and Class D stock from Rocket Cos.’ existing holding company, Rock Holdings Inc., which is owned by the company’s founder and chairman Dan Gilbert. Twenty banks are set to underwrite the IPO, led by Goldman Sachs
