Focus Financial Partners LLC said its initial public offering of class A shares are expected to be priced between $35 and $39 apiece.
The company will list about 16.2 million shares on the NASDAQ Global Select Market under the ticker symbol FOCS, with plans to offer underwriters a 30-day option to buy up to 2.4 million more shares at the IPO price. Based on the midpoint of the price range and assuming that underwriters will exercise their option, the company expects to receive about $634.2 million of net proceeds.
Goldman Sachs & Co. LLC, KKR Capital Markets, BofA Merrill Lynch, BMO Capital Markets, SunTrust Robinson Humphrey and RBC Capital Markets are the joint book-running managers. Serving as co-managers are Keefe Bruyette & Woods, Fifth Third Securities, Mitsubishi UFJ Financial Group Inc, Raymond James & Associates Inc, Regions Securities LLC and William Blair.