Landsea Homes Corporation Announces Proposed Secondary Offering of Common Stock
Landsea Homes (LSEA) has announced a proposed secondary offering of 5,043,480 shares of common stock by selling stockholders. The underwriters will have a 30-day option to purchase up to an additional 756,520 shares. The company itself is not selling any shares in this offering.
B. Riley Securities is acting as the sole bookrunning manager, while Wedbush Securities and Zions Capital Markets are serving as co-managers. The offering will be made through a shelf registration statement on Form S-3 that has been filed and declared effective by the SEC.
Landsea Homes (LSEA) ha annunciato un'offerta secondaria proposta di 5.043.480 azioni di azioni ordinarie da parte di azionisti venditori. Gli underwriters avranno un'opzione di 30 giorni per acquistare fino a ulteriori 756.520 azioni. L'azienda stessa non sta vendendo alcuna azione in questa offerta.
B. Riley Securities funge da unico gestore della registrazione, mentre Wedbush Securities e Zions Capital Markets svolgono il ruolo di co-gestori. L'offerta sarà effettuata tramite un modulo di registrazione shelf S-3 che è stato presentato e dichiarato efficace dalla SEC.
Landsea Homes (LSEA) ha anunciado una propuesta de oferta secundaria de 5,043,480 acciones de acciones comunes por parte de accionistas vendedores. Los suscriptores tendrán una opción de 30 días para comprar hasta 756,520 acciones adicionales. La empresa misma no está vendiendo ninguna acción en esta oferta.
B. Riley Securities actúa como el único gerente de libro, mientras que Wedbush Securities y Zions Capital Markets están sirviendo como co-gerentes. La oferta se realizará a través de una declaración de registro en estante en el Formulario S-3 que ha sido presentada y declarada efectiva por la SEC.
Landsea Homes (LSEA)는 주주들이 판매하는 5,043,480주의 일반주식에 대한 제안된 2차 공모를 발표했습니다. 인수인들은 최대 756,520주를 추가로 구매할 수 있는 30일 옵션을 가집니다. 이 회사는 이번 공모에서 어떤 주식도 판매하지 않습니다.
B. Riley Securities가 독점 북저닝 매니저로 활동하고 있으며, Wedbush Securities와 Zions Capital Markets는 공동 매니저로서 역할을 수행하고 있습니다. 이번 공모는 SEC에 의해 제출되고 효력이 인정된 S-3 양식의 선반 등록 명세서를 통해 이루어질 것입니다.
Landsea Homes (LSEA) a annoncé une offre secondaire proposée de 5 043 480 actions de actions ordinaires par des actionnaires vendeurs. Les souscripteurs disposeront d'une option de 30 jours pour acheter jusqu'à 756 520 actions supplémentaires. La société elle-même ne vend aucune action dans cette offre.
B. Riley Securities agit en tant que gestionnaire unique de la réservation, tandis que Wedbush Securities et Zions Capital Markets agissent en tant que co-gestionnaires. L'offre sera réalisée par le biais d'une déclaration d'enregistrement sur étagère sous le formulaire S-3, qui a été déposée et déclarée effective par la SEC.
Landsea Homes (LSEA) hat eine vorgeschlagene Sekundärplatzierung von 5.043.480 Aktien von Stammaktien durch verkaufende Aktionäre angekündigt. Die Underwriter haben die Möglichkeit, innerhalb von 30 Tagen bis zu 756.520 Aktien zusätzlich zu kaufen. Das Unternehmen selbst verkauft keine Aktien in diesem Angebot.
B. Riley Securities fungiert als alleiniger Bookrunner, während Wedbush Securities und Zions Capital Markets als Co-Manager tätig sind. Das Angebot wird über eine Shelf-Registrierungsanmeldung auf dem Formular S-3 erfolgen, die bei der SEC eingereicht und für wirksam erklärt wurde.
- None.
- Potential dilution of existing shareholders' ownership due to 5,043,480 new shares being offered
- Additional dilution risk from 756,520 shares in underwriters' option
- Current shareholders are selling their positions, which might signal lack of confidence
Insights
This secondary offering of 5.04 million shares with an additional 756,520 shares option represents a significant liquidity event for existing shareholders, though the company won't receive any proceeds. At current market prices, the offering could be worth approximately
The timing aligns with the recent positive momentum in the homebuilding sector, suggesting selling stockholders are capitalizing on improved market conditions. B. Riley Securities' involvement as sole bookrunner, alongside Wedbush and Zions Capital Markets as co-managers, provides strong institutional backing for the distribution.
For existing shareholders, this offering may create short-term pressure on the stock price due to dilution effects, though increased float could improve long-term trading liquidity. The market's reaction will largely depend on pricing details and institutional investor interest.
DALLAS, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Landsea Homes Corporation (Nasdaq: LSEA) (“Landsea Homes” or the “Company”), a publicly traded residential homebuilder, today announced the commencement of an underwritten public offering of 5,043,480 shares of its common stock to be offered by selling stockholders of the Company (collectively, the “Offering”). The selling stockholders also expect to grant the underwriters a 30-day option to purchase up to an additional 756,520 shares of common stock. The Company is not selling any shares of common stock in the proposed Offering. The proposed Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.
B. Riley Securities is acting as sole bookrunning manager for the proposed Offering. Wedbush Securities and Zions Capital Markets are acting as co-managers for the proposed Offering.
A shelf registration statement on Form S-3 relating to the securities being sold in the proposed Offering has been filed with and declared effective by the U.S. Securities and Exchange Commission (the “SEC”), and is available on the SEC’s website located at www.sec.gov. The proposed Offering will be made only by means of a prospectus supplement and accompanying prospectus that forms part of the registration statement, copies of which may be obtained, when available, by request from: B. Riley Securities, Inc. at 1300 17th Street North, Suite 1300, Arlington, VA 22209, by telephone at 1-703-312-9580 or by e-mail at prospectuses@brileyfin.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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. Landsea Homes was honored as the Green Home Builder 2023 Builder of the Year, after being named the 2022 winner of the prestigious Builder of the Year award, presented by BUILDER magazine, in recognition of a historical year of transformation.
Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts contained herein, including without limitation, statements regarding the expected completion, timing and size of the proposed Offering and the option granted to the underwriters by the selling stockholders to purchase additional shares, are forward-looking statements reflecting the current beliefs and expectations of Landsea Homes’ management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. No assurance can be given that the proposed Offering discussed above will be completed on the terms described, or at all. Forward-looking statements represent Landsea Homes’ current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the trading price and volatility of Landsea Homes’ common stock, and risks relating to Landsea Homes’ business, including those risks and uncertainties described in periodic reports that Landsea Homes files from time to time with the SEC, as well as the preliminary prospectus supplement relating to the proposed Offering filed with the SEC. The forward-looking statements included in this press release speak only as of the date of this press release, and Landsea Homes does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.
Contact Information:
Investor Relations:
Drew Mackintosh, CFA
Mackintosh Investor Relations, LLC
drew@mackintoshir.com
(310) 924-9036
Media:
Annie Noebel
Cornerstone Communications
anoebel@cornerstonecomms.com
(949) 449-2527
FAQ
How many shares are being offered in Landsea Homes (LSEA) secondary offering?
Is Landsea Homes (LSEA) selling any shares in the December 2024 offering?
Who are the underwriters for LSEA's 2024 secondary offering?
