loanDepot Expected to Give Its IPO Another Try; Does the CFO Resigning Mean Anything?
November 19, 2015
Although loanDepot’s multi-million dollar initial public offering is off the table for now, the privately held nonbank is expected to test the market some time again – it’s just a matter of when. The deal was scuttled late last week, after questions were raised about how the company was valuing itself in the IPO documents. Another sidebar was the revelation in the S-1 filing that Chief Financial Officer Jon Frojen had resigned just weeks before loanDepot’s stock was slated to trade. In the S-1, loanDepot tries to dispel the notion that Frojen’s resignation had anything to do with the IPO, saying the change was made by management prior to the
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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