United Development Funding IV – Now Trading on the NASDAQ

United Development Funding IV (UDF IV) listed its common shares on the NASDAQ yesterday, June 4th, as previously announced, under the ticker symbol “UDF.” It traded from a low of $18.72 to a high of $21.04 during the day. 

UDF IV raised about $615 million in its primary offering at $20 per share and has been closed to new investors since May of 2013. 

“Our listing on the NASDAQ provides UDF IV broader access to public capital markets and allows our investors to participate in the anticipated growth,” commented Stacey Dwyer, Chief Operating Officer of UDF IV.

As of 1pm on June 5th, UDF IV, which invests in single family residential finance by providing funding solutions to experienced homebuilders and developers, was trading at $19.54. It has originated or purchased 149 loans since inception. 

“The housing market continues to strengthen, and capital for residential development continues to be a challenge. We are still in the early stages of a housing recovery, and UDF IV will continue to be an important capital solution for regional homebuilders and developers,” commented Hollis M. Greenlaw, Chief Executive Officer and Chairman of the UDF IV Board of Trustees.

In addition to its listing, UDV IV also commenced a tender offer to purchase up to 1,707,317 of its common shares at $20.50 per share. All shares must be tendered prior to July 2, 2014 12:01am EST.