Caliber Announces Closing of Initial Public Offering and NASDAQ Listing
May 19 2023 - 4:30PM
Business Wire
CaliberCos Inc. (“Caliber”), a vertically integrated alternative
asset manager, today announced the closing of its upsized initial
public offering (“IPO”) of 1,200,000 shares of its Class A common
stock (the “Common Stock”) at a public offering price of $4.00 per
share, for aggregate gross proceeds of approximately $4.8 million
before deducting underwriting discounts, commissions, and other
offering expenses.
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 closed on May 19, 2023.
Caliber’s Class A common stock began trading on the NASDAQ stock
exchange under the ticker symbol “CWD” on May 17, 2023. 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. The final prospectus relating
to the offering is available on the SEC’s website. 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
sfaucetta@spartancapital.com.
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 Caliber
Caliber is a leading vertically integrated alternative asset
management firm whose purpose is to build generational wealth for
investors seeking to access opportunities in middle-market assets.
Caliber differentiates itself by creating, managing, and servicing
proprietary products, including middle-market investment funds,
private syndications, and direct investments which are managed by
our in-house asset services group. 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 through in-house client
services. Additional information can be found at Caliberco.com.
Forward Looking Statements
This press release contains “forward-looking statements” that
are subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as “anticipate,” “believe,” “contemplate,” “could,”
“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “target,” “aim,” “should,”
"will” “would,” or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on the Company’s
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. These and other
risks and uncertainties are described more fully in the section
titled “Risk Factors” in the final prospectus related to the public
offering filed with the SEC and other reports filed with the SEC
thereafter. Forward-looking statements contained in this
announcement are made as of this date, and the Company undertakes
no duty to update such information except as required under
applicable law.
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Investors: Tamara Gonzalez Financial Profiles +1 310-622.8234
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