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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Re/Max Raises $220M In IPO 0 comments
    Oct 2, 2013 9:44 AM | about stocks: RMAX

    Originally published at www.seclive.com

    Re/Max Holdings Inc. (NYSE:RMAX), as previously reported in Filings Digest August 19, 2013, filed for an IPO and just recently made its offering. The company, which originally estimated it would raise $100M, sold 10 million shares for $22.00 each, priced above its $19.00 to $21.00 price range. Re/Max intends to use the proceeds from the offering to reacquire some franchises in the Southwest and Mid-Atlantic regions of the U.S. The company has been on an upward trend, battling from a $2.75M loss in 2010 to earnings of $24.2M in 2011, and $33.3M in earnings last year. Home prices have been steadily rising, with some reports showing price increases as much as 12.4%, the most in seven years. Joint bookrunners that helped manage the offering included JPMorgan Chase, Morgan Stanley, and Bank of America.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: RMAX
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