Hollis M. Greenlaw, CEO and Chairman of United Development Funding IV (UDF IV), and other executives from the firm and Board of Trustees will ring the opening bell this morning.
UDF IV listed on the NASDAQ under the symbol UDF on June 4, 2014.
“I’d like to thank our shareholders, our Trustees, our clients and the entire UDF IV team, for delivering us here today with the listing of our shares on NASDAQ. We also would like to thank Nick Schorsch and Realty Capital Securities, and the independent broker dealer network. NASDAQ lists tomorrow’s companies today. UDF provides capital solutions to single family residential homebuilders and developers in the largest and healthiest homebuilding markets in the country. We support the American Dream. Today, NASDAQ joins us and enhances our access to the capital markets,” commented Greenlaw in a statement.
The ceremonial ringing of the bell takes place at the NASDAQ MarketSite at 9:30am EST.
UDF IV invests primarily in secured loans of residential properties. It closed yesterday at $18.73 and has a market cap just over $573 million.