The company plans to sell 8.1 million shares at between $20 and $21 per share in its initial public offering (IPO). That equates to a value of approximately $537 million if the stock trades at $20.50. In the filing, Angel Oak said it has about $535 million in assets.
Once public, the company will trade under the symbol “AOMR.” Once on the New York Stock Exchange, Angel Oak would be considered a real estate investment trust (REIT).