Rocket sold 100 million shares to raise $1.8 billion in the IPO, which valued the company at around $36 billion. The company had aimed to sell 150 million shares at a target price range of $20-$22 per share.
At $18, it is now the third-largest U.S. IPO of 2020, excluding blank-check companies. Within its original $20-$22 range, Rocket would have been the largest IPO of a U.S. company of the year so far.
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