Kirkland Represents loanDepot and Parthenon Capital on Initial Public Offering
Kirkland represented loanDepot, Inc. (NYSE: LDI), America’s second largest retail-focused non-bank mortgage originator, and Parthenon Capital on loanDepot’s initial public offering. The Class A shares began trading on the New York Stock Exchange under the symbol “LDI” on February 11, 2021, and the offering closed on February 16. Following closing, loanDepot’s common stock nearly tripled in value, representing a market capitalization of over $10 billion. The offering consisted of approximately 2.75 million shares of common stock issued and sold by loanDepot, which included an additional 359,100 shares of loanDepot’s common stock, following the exercise in full of the underwriters’ option to purchase additional shares of its common stock from the company and approximately 1.67 million shares of common stock sold by certain funds managed by Parthenon Capital, which included an additional 218,400 shares of loanDepot’s common stock following the exercise in full of the underwriters’ option to purchase additional shares of its common stock from Parthenon Capital.
Read the loanDepot press release
The Kirkland team for loanDepot was led by capital markets partners Josh Korff, Michael Kim and Jennifer Lee, tax partner Devin Heckman, executive compensation partners Matthew Shiels and Malhar Naik, and employee benefits partner Elizabeth Dyer.
The Kirkland team for Parthenon was led by corporate partners Tana Ryan and Bryan Ikegami, capital markets partner Sophia Hudson, tax partner Thomas Evans, and executive compensation partner Rob Fowler.
