LoanDepot, a mortgage lender, has closed its IPO. Its 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. LoanDepot was represented by Kirkland.