This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Imperial Holdings Slashes IPO Price

Stocks in this article: FBCMJMPLPHI


NEW YORK ( TheStreet) -- Specialty finance company Imperial Holdings has lowered its expected initial public offering price of common stock.

The company now expects to offer about 16.7 million shares of common stock for $10 to $12 a share. Previously, it expected to offer this amount of shares for $14 to $16 a share.

FBR Capital Markets (FBCM), JMP (JMP) Securities and Wunderlich Securities are the underwriters for the transaction. They have the right to buy up to 2.5 million additional shares of the company's common stock to cover over-allotments.

Imperial Holdings, which is a specialty finance company with a focus on providing premium financing for individual life insurance policies and purchasing structured settlements, reported total income decline of 17.7% to $60.4 million in 2010, from $73.4 million a year ago.

The company was founded in Dec. 2006, and focuses on providing premium financing for individual life insurance policies issued by insurance companies generally rated A+ or better by Standard & Poor's or A or better by A.M.

"Difficult conditions in the credit and equity markets have adversely affected and may continue to adversely affect the growth of our business, our financial condition and results of operations," the company said in an SEC filing.

Imperials' main competitors in the premium finance industry are CMS, Inc, Insurative Premium Finance and Madison One. Competitors also include Coventry First, Life Partners Holdings (LPHI) and ViaSource Funding . "It is possible that a number of our competitors may be substantially larger and may have greater market share and capital resources than we have."

Imperial Holdings expects to trade under the symbol "IFT" on the New York Stock Exchange. Imperial is expected to price this week.

>>Search for Highest Dividends by Rate or Yield

More on Earnings
Today's Top Earnings
Earnings Calendar

-- Written by Andrea Tse in New York.



>To contact the writer of this article, click here: Andrea Tse.

>To follow the writer on Twitter, go to Andrea Tse.

>To submit a news tip, send an email to: tips@thestreet.com.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs