PE-Backed Homebuilder WCI Aims To Raise $222M In IPO

Law360, New York (July 15, 2013, 1:37 PM EDT) -- Florida luxury home developer WCI Communities Inc., which is backed by private equity firm Monarch Alternative Capital LP, among others, filed with regulators to raise up to $222.4 million in an initial public offering, Monarch said Monday.

The IPO will include at least 8.5 million shares of WCI common stock priced between $21 and $23 per share, the homebuilder said. The offering values WCI at up to $600 million.

WCI emerged from Chapter 11 proceedings in 2009 after nearly $2 billion in maturing debt forced the...
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