Proceeds used for acquisitions, development of lots, home construction
By Devika Patel
Knoxville, Tenn., Jan. 31 - The New Home Co., Inc. said it priced an $85.94 million initial public offering of stock with a $12.89 million greenshoe.
The company will sell 7,812,500 common shares at $11.00 per share.
Citigroup, JPMorgan and Credit Suisse are the joint bookrunning managers.
Settlement is expected Feb. 5.
Proceeds will be used for land acquisitions, development of lots, home construction and other related purposes.
The homebuilder is based in Aliso Viejo, Calif. Its shares will be listed on the New York Stock Exchange under the symbol "NWHM."
| Issuer: | The New Home Co., Inc.
|
| Issue: | Common stock
|
| Amount: | $85,937,500
|
| Greenshoe: | $12,890,625
|
| Shares: | 7,812,500
|
| Price: | $11.00
|
| Warrants: | No
|
| Bookrunners: | Citigroup, JPMorgan and Credit Suisse
|
| Lead manager: | Zelman Partners LLC
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 5
|
| Stock symbol: | NYSE: NWHM
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
