On Friday, Landsea Homes Corporation (LSEA), a residential homebuilder, announced the pricing of a secondary offering of 6.09 million shares at $10.25 per share. Consequently, the company's stock experienced a decline of over 6 percent in pre-market trading.
The selling shareholders have provided underwriters with a 30-day option to acquire up to an additional 913,043 shares.
It's important to note that the company is not participating in the sale of any shares in this offering, which is anticipated to conclude by December 9.
As of Thursday's close, Landsea's stock stood at $11.20, reflecting a 1.41 percent decrease. Over the past year, the stock has fluctuated between $8.28 and $14.91.
