Landsea Homes Corporation announced that its major shareholder, Landsea Holdings Corporation, has begun a secondary sale of approximately 2.43 million company common stock shares. In addition to that, the selling shareholder will provide underwriters with a 30-days option to buy up to an extra 365,217 common stock shares.
However, Landsea Homes Corporation stated it will not be offering any company common stock shares in this sale and, therefore, will not receive any proceeds from this transaction enacted by the selling shareholder.
The company also anticipates that distinct members of the senior management team and board of directors, along with a family member of the Chairman, shall purchase an aggregate of up to $867,000 in company common stock shares, offered by the selling shareholder during this sale, at a cost equivalent to the per-share selling price.
