SAN DIEGO — LPT Realty founder and CEO Robert Palmer confirmed on stage at Inman Connect San Diego that the brokerage’s parent company has taken its first formal step toward an initial public offering.
Palmer made the announcement during a session with Inman CEO Tom Bohn, hours after LPT Aperture Holdings, the operating name of LPT Holdings Inc., said in a press release that it had confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission for a proposed IPO of its common stock.
The number of shares to be offered and the price range have not been set, according to the release. The IPO is expected to take place after the SEC completes its review process, subject to market conditions and other considerations.
The announcement was issued under Rule 135 of the Securities Act of 1933. It is not an offer to sell securities or a solicitation of an offer to buy securities. Any offers, solicitations or sales of securities will be made in accordance with the registration requirements of the Securities Act.
This is a developing story and will be updated with further details.
