Financial firm Imperial Holdings L.L.C., Boca Raton, Fla., is getting set to convert to a publicly held company.
The company, which announced its intention last August to launch an initial public offering (IPO), last week filed a registration statement with the Securities and Exchange Commission declaring it will sell around 16.7 million shares valued at $287 million.
Imperial provides premium financing for individual life insurance policies and purchasing structured settlements.
The company, founded in December 2006, will be listed on the New York Stock Exchange under the symbol IFT.
During the nine months ended Sept. 30, 2010, Imperial reported a net loss of $16.4 million on revenue of $60.4 million. As of Sept. 30, it had total assets of $181 million.The offering is being underwritten by FBR Capital Markets, Arlington, Va.; JMP Securities, San Francisco; and Wunderlich Securities, Memphis.