CaliberCos Inc., a vertically integrated alternative asset manager, announced the pricing of its upsized initial public offering of 1,200,000 shares of its Class A common stock at a public offering price of $4.00 per share.
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–CaliberCos Inc. (“Caliber”), a vertically integrated alternative asset manager, today announced the pricing of its upsized initial public offering of 1,200,000 shares of its Class A common stock at a public offering price of $4.00 per share, for aggregate gross proceeds of $4.8 million before deducting underwriting discounts, commissions, and other offering expenses.
In addition, the Company has granted the underwriters an option to purchase up to 15% of additional shares of Class A common stock, less underwriting discounts and commissions, for 45 days to cover over-allotments, if any. The offering is expected to close on or about May 19, 2023, subject to satisfaction of customary closing conditions.
The shares are expected to begin trading on NASDAQ on May17, 2023, under the symbol “CWD.” The Company intends to use the net proceeds of the offering to increase its capitalization and financial flexibility, create a public market for its Class A common stock, facilitate its future access to the capital markets and for other general corporate purposes.
Spartan Capital Securities, LLC is the sole bookrunner for the offering. Manatt, Phelps & Phillips, LLP represented Caliber and Bevilacqua PLLC acted as counsel for Spartan Capital Securities, LLC.
A registration statement on Form S-1 is filed with the U.S. Securities and Exchange Commission (SEC) and was amended and declared effective on May 15, 2023. A final prospectus relating to this offering will be filed with the SEC. Copies of the prospectus relating to this offering may be obtained from: Spartan Capital Securities, LLC, 45 Broadway – 19th Floor, New York, NY 10006, by telephone at (516) 413-5210, or by email at [email protected].
This press release shall 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.
Caliber is a leading vertically integrated asset management firm whose primary goal is to enhance the wealth of investors seeking to make investments in middle-market assets. We strive to build wealth for our investor clients by creating, managing and servicing proprietary products, including middle-market investment funds, private syndications, and direct investments. Our funds include investment vehicles focused primarily on real estate, private equity, and debt facilities. We market our services through direct sales to private investors, wholesaling to investment advisers, direct sales to family offices and institutions, and in-house client services. Caliber’s middle-market specialty allows the Company to compete with agility and speed in an evolving arena of alternative investments. Additional information can be found at Caliberco.com and CaliberFunds.co.
Click here to see Caliber’s current property portfolio.
If you would like to speak to someone about diversifying your retirement accounts, contact us at [email protected] or call (480) 295-7600 to schedule a call with a member of our Wealth Development Team.
If you would like to learn more about Opportunity Zone Investing, Caliber has put together a special guide that cuts through the myths and misconceptions and outlines the benefits, the risks, and the upcoming deadlines you must know to be able to participate. Get access to the guide here.
The information contained herein is general in nature and is not intended, and should not be construed, as accounting, financial, investment, legal, or tax advice, or opinion, in each instance provided by Caliber or any of its affiliates, agents, or representatives. The reader is cautioned that this material may not be applicable to, or suitable for, the reader’s specific circumstances, desires, needs, and requires consideration of all applicable facts and circumstances. The reader understands and acknowledges that, prior to taking any action relating to this material, the reader (i) has been encouraged to rely upon the advice of the reader’s accounting, financial, investment, legal, and tax advisers with respect to the accounting, financial, investment, legal, tax, and other considerations relating to this material, (ii) is not relying upon Caliber or any of its affiliates, agents, employees, managers, members, or representatives for accounting, financial, investment, legal, tax, or business advice, and (iii) has sought independent accounting, financial, investment, legal, tax, and business advice relating to this material. Caliber, and each of its affiliates, agents, employees, managers, members, and representatives assumes no obligation to inform the reader of any change in the law or other factors that could affect the information contained herein.