DALLAS - Landsea Homes Corporation (NASDAQ:LSEA), a residential homebuilder, announced Monday that its principal shareholder, Landsea Holdings Corporation, initiated a secondary offering of 2,434,783 shares of common stock. Additionally, the underwriters have been granted a 30-day option to buy up to 365,217 more shares.
The offering does not include any shares from Landsea Homes itself, hence the company will not receive proceeds from the stock sale. Key figures within the company, including senior management, board members, and a relative of the Chairman, plan to collectively purchase approximately $867,000 worth of shares at the offering price.
Joint bookrunning managers for the transaction are B. Riley Securities and BofA Securities, with BTIG and Wedbush Securities serving as co-managers. The securities are being offered via a prospectus supplement and an accompanying prospectus, both filed with the SEC and available upon request from the managing financial institutions.
This move by Landsea Holdings Corporation comes after the company's continuous growth in the homebuilding sector across several states, including Arizona, California, Colorado, Florida, Texas, and the Metro New York area.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.