Bridge Investment Group Holdings Inc. Announces Launch of Initial Public Offering

Rhea-AI Summary

Bridge Investment Group Holdings has initiated an initial public offering (IPO) of 18,750,000 shares of its Class A common stock, with pricing expected between $15.00 and $17.00 per share. Additionally, underwriters may purchase up to 2,812,500 shares within 30 days at the IPO price. The shares will be listed on the NYSE under the symbol "BRDG." The offering is managed by Morgan Stanley, J.P. Morgan, and Citigroup, among others. It's crucial to note that the registration statement for the IPO is pending effectiveness.

Positive

• IPO of 18,750,000 shares expected to raise significant capital.
• Potential for an additional 2,812,500 shares to be sold by underwriters.
• Company has approximately $26 billion in assets under management, indicating strong financial backing.

Negative

• IPO is contingent on the effectiveness of the registration statement, delaying potential fundraising.
• Initial offering price range may suggest uncertainty in market reception.

Bridge Investment Group Holdings Inc. (“Bridge”) today announced that it has commenced an initial public offering of 18,750,000 shares of its Class A common stock. The initial public offering price is expected to be between $15.00 and $17.00 per share. Bridge expects to grant the underwriters a 30-day option to purchase up to an additional 2,812,500 shares of its Class A common stock at the initial public offering price, less the underwriting discount. The shares are expected to trade on the New York Stock Exchange under the ticker symbol “BRDG.”

Morgan Stanley, J.P. Morgan and Citigroup are acting as the joint lead book-running managers for the offering. Wells Fargo Securities and UBS Investment Bank are acting as joint book-running managers for the offering. AmeriVet Securities, C.L. King & Associates and Siebert Williams Shank are acting as co-managers for the offering.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the proposed offering may be obtained from any of the following sources:

• Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014;
• J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via email at prospectus-eq_fi@jpmorgan.com, or via telephone at (866) 803-9204; or
• Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or via telephone at (800) 831-9146.

A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission 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 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.

About Bridge Investment Group:

Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $26 billion of assets under management as of March 31, 2021. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: multifamily, affordable housing, seniors housing, office, development, logistics net lease, logistics properties, debt strategies and agency mortgage backed securities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210707005519/en/

FAQ

What is the expected price range for Bridge Investment Group's IPO?

The expected price range for Bridge Investment Group's IPO is between $15.00 and $17.00 per share.

How many shares is Bridge Investment Group offering in its IPO?

Bridge Investment Group is offering 18,750,000 shares of its Class A common stock in the IPO.

Who are the underwriters for the Bridge Investment Group IPO?

The underwriters for the Bridge Investment Group IPO include Morgan Stanley, J.P. Morgan, and Citigroup, among others.

What is the ticker symbol for Bridge Investment Group on the NYSE?

The ticker symbol for Bridge Investment Group on the NYSE is 'BRDG.'

What is the purpose of Bridge Investment Group's IPO?

The purpose of the IPO is to raise capital, although specific use of funds has not been disclosed in the press release.