Landsea Homes Announces Commencement of Private Offering of Senior Notes
18 3월 2024 - 9:38PM
Landsea Homes Corporation (Nasdaq: LSEA) (“Landsea Homes” or the
“Company”) announced today that it intends to offer $300,000,000
aggregate principal amount of senior notes due 2029 (the “Notes”),
subject to market conditions and other factors. The Notes will be
guaranteed, jointly and severally, on a senior unsecured basis, by
all of the Company’s material wholly owned subsidiaries as of their
issuance (the “Guarantors”) and will rank pari passu with all other
unsecured and unsubordinated indebtedness of the Company and
Guarantors.
The Company intends to use the net proceeds from the sale of the
Notes to pay down a portion of the outstanding borrowings under its
revolving credit facility.
The Notes will be offered only to persons reasonably believed to
be qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”), and to
non-U.S. persons outside the United States under Regulation S under
the Securities Act. The Notes have not been registered under the
Securities Act, and may not be offered or sold in the United States
absent registration or an applicable exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and other applicable securities laws.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the Notes, nor shall there be any
sale of the Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
An offer, or solicitation to buy, the Notes, if at all, will be
made only by means of a confidential offering memorandum.
About Landsea Homes Corporation
Landsea Homes Corporation (Nasdaq: LSEA) is a publicly traded
residential homebuilder based in Dallas, Texas, that designs and
builds best-in-class homes and sustainable master-planned
communities in some of the nation’s most desirable markets. The
company has developed homes and communities in New York, Boston,
New Jersey, Arizona, Colorado, Florida, Texas, and throughout
California in Silicon Valley, Los Angeles, and Orange County.
Forward-Looking Statements
Certain statements in this press release may constitute
“forward-looking statements” within the meaning of the federal
securities laws. These statements constitute projections,
forecasts, and forward-looking statements, and are not guarantees
of performance. Landsea Homes cautions that forward-looking
statements are subject to numerous assumptions, risks and
uncertainties, which change over time. Words such as “may,” “can,”
“should,” “will,” “estimate,” “plan,” “project,” forecast,”
“intend,” “expect,” “anticipate,” “believe,” “seek,” “target,”
“look” or similar expressions may identify forward-looking
statements.
These forward-looking statements are based on information
available as of the date of this press release and our management’s
current expectations, forecasts, and assumptions, and involve a
number of judgments, risks and uncertainties that may cause actual
results or performance to be materially different from those
expressed or implied by these forward-looking statements.
These risks and uncertainties include, but are not limited to,
the risk factors described by Landsea Homes in its filings with the
SEC. Accordingly, forward-looking statements should not be relied
upon as representing our views as of any subsequent date, and you
should not place undue reliance on these forward-looking statements
in deciding whether to invest in our securities. We do not
undertake any obligation to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
Media Contact:Annie NoebelCornerstone
Communicationsanoebel@cornerstonecomms.com(949) 449-2527
Investor Relations Contact:Drew
MackintoshMackintosh Investor Relations,
LLCdrew@mackintoshir.com(310) 924-9036
Landsea Homes (NASDAQ:LSEA)
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