Dan Gilbert would keep control under Quicken Loans IPO
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July 8, 2020
DETROIT (AP) — Quicken Loans would become part of Rocket Companies under an initial public stock offering that would keep founder Dan Gilbert in firm control.
A filing Tuesday with the Securities and Exchange Commission said Gilbert would have control with 79% voting power in a multi-tiered stock structure.
Rocket Companies would be more than Quicken Loans, the Detroit-based mortgage lender. It would include a real estate title company, a home search platform, a personal loan provider and a used car business.
"Essentially, Dan Gilbert is maintaining full control of the company," said David Kud...
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