Paul Weiss-Led Mortgage Lender Rocket Launches $3.2B IPO

Law360 (July 28, 2020, 4:03 PM EDT) -- Rocket Cos., which owns a collection of financial services businesses including the largest U.S. mortgage lender, said Tuesday it hopes to raise nearly $3.2 billion in an initial public offering advised on by Paul Weiss and Davis Polk.

Detroit based-Rocket Cos. is a holding company for brands such as Rocket Mortgage, Rocket Homes, Rocket Loans, digital marketing business Core Digital Media and Canadian mortgage companies Lendesk and Edison Financial. Its Quicken Loans brand is the largest mortgage lender in the U.S.

Rocket, advised by Paul Weiss Rifkind Wharton & Garrison LLP, said in an updated registration statement filed with the U.S....

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