Accredited Home Lenders Holding Co., a San Diego-based subprime lender and servicer, has announced an initial public offering of 9.65 million shares of common stock at $8 per share.Accredited said approximately 4.49 million shares are being sold by the company and the remainder are being sold by selling stockholders. The underwriters have been given a 30-day option to buy up to an additional 1.18 million shares from the company and up to 267,000 shares from the stockholders to cover any overallotments. Friedman, Billings, Ramsey & Co. Inc., U.S. Bancorp Piper Jaffray Inc., and Wedbush Morgan Securities Inc. are managing the offering.
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