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 [email protected].

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
[email protected]
(310) 924-9036

Media:
Annie Noebel
Cornerstone Communications
[email protected]
(949) 449-2527