Key Developments: Taylor Morrison Home Corp (TMHC.N)

TMHC.N on New York Stock Exchange

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23 Jan 2015
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Latest Key Developments (Source: Significant Developments)

Taylor Morrison announces agreement to sell Canadian Business to Mattamy Homes Yielding over an estimated C$570 mln in cash
Tuesday, 16 Dec 2014 09:00am EST 

Taylor Morrison Home Corp:Enters into a definitive agreement to sell Monarch Corp, its Canadian operations, to an affiliate of Mattamy Homes Ltd.Purchase price is currently estimated to be about C$330 mln.Transaction is subject to customary closing conditions, including approval by the Canadian Competition Bureau, and is expected to close in the first quarter of 2015.  Full Article

Taylor Morrison Home Corporation announces Joint Venture to acquire Marblehead
Tuesday, 1 Apr 2014 11:30pm EDT 

Taylor Morrison Home Corporation:Announced that it has formed a joint venture with its two shareholders.To acquire and develop Marblehead, a prestigious coastal residential development in San Clemente, California.Marblehead consists of 195.5 coastal acres and can accommodate over 300 luxury home sites.Terms of the transaction were not disclosed.  Full Article

Taylor Morrison Home Corp Completes Initial Public Offering
Friday, 12 Apr 2013 10:42am EDT 

Taylor Morrison Home Corp announced that it has completed its initial public offering of 32,857,800 shares of the Company's Class A common stock, including 4,285,800 shares of Class A common stock sold in connection with the full exercise of the option to purchase additional shares granted to the underwriters, at a price to the public of $22.00 per share. The shares began trading on the New York Stock Exchange on April 10, 2013 under the ticker symbol TMHC. Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and Zelman Partners LLC acted as joint book-running managers for the offering.  Full Article

Taylor Morrison Home Corp Announces Pricing Of Initial Public Offering
Tuesday, 9 Apr 2013 08:15pm EDT 

Taylor Morrison Home Corp announced the pricing of its initial public offering of 28,572,000 shares of the Company’s Class A common stock at a price to the public of $22.00 per share. The shares will be listed on the New York Stock Exchange and will trade under the ticker symbol “TMHC” beginning on April 10, 2013. The underwriters also have a 30-day option to purchase up to an additional 4,285,800 shares of the Company’s Class A common stock at the initial public offering price less the underwriting discount. The offering is expected to close on April 12, 2013. Total net proceeds to the Company from the offering, after deducting the underwriting discount, will be approximately $590.9 million. The Company intends to use approximately $204.3 million of the net proceeds to purchase ownership interests in its direct operating subsidiary whose subsidiaries will then use those proceeds to redeem approximately $189.6 million of their outstanding senior notes. The Company intends to use the remaining approximately $386.6 million of the net proceeds, together with cash on hand, to purchase additional ownership interests in its direct operating subsidiary from its current equity sponsors and certain members of management. Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and Zelman Partners LLC are acting as joint book-running managers for the offering.  Full Article

Taylor Morrison Home Corp Announces Launch Of Initial Public Offering
Monday, 1 Apr 2013 07:13am EDT 

Taylor Morrison Home Corp announced the launch of its initial public offering in the United States of 23,810,000 shares of its Class A common stock. The initial public offering price is expected to be between $20.00 and $22.00 per share of Class A common stock. The shares have been approved for listing on the New York Stock Exchange and trading under the ticker symbol TMHC, subject to official notice of issuance. The underwriters have the option to purchase from the Company up to an additional 3,571,500 shares of Class A common stock, on the same terms and conditions, to cover over-allotments, if any. The Company intends to use approximately $195.0 million of the net proceeds of the offering to purchase ownership interests in its direct operating subsidiary and to finance the redemption of a portion of the senior notes issued and guaranteed by its other subsidiaries. The Company also intends to use approximately $275.0 million of the net proceeds of the offering, together with cash on hand, to purchase additional ownership interests in its direct operating subsidiary held by its current equity sponsors and certain of its officers and directors. Credit Suisse, Citigroup, Deutsche Bank Securities, Goldman, Sachs & Co., J.P. Morgan and Zelman Partners will act as joint book-running managers for the offering.  Full Article

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