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William Lyon Homes Inc Announces IPO Pricing At $25.00 Per Share

Wednesday, 15 May 2013 11:17pm EDT 

William Lyon Homes Inc announced the pricing of initial public offering of 8,700,000 shares of the Company's Class A Common Stock at a price to the public of $25.00 per share. The outstanding shares of the Company's Class A Common Stock are expected to begin trading on the New York Stock Exchange under the ticker symbol WLH on May 16, 2013. A total of 6,525,000 shares are being offered by the Company, and a total of 2,175,000 shares are being offered by a selling stockholder. The Company and the selling stockholder have also granted the underwriters a 30-day option to purchase up to an aggregate of 1,305,000 shares of the Company's Class A Common Stock, including 652,500 additional shares from the Company and 652,500 additional shares from the selling stockholder, on the same terms and conditions. Total net proceeds to the Company from the offering, after deducting the underwriting discount and estimated offering expenses, will be approximately $149.9 million. The Company intends to use the net proceeds from the offering for growth capital, including the acquisition of land currently under contract or non-binding letters of intent, and for general corporate purposes. The Company will not receive any proceeds from the sale of shares by the selling stockholder. Credit Suisse, Citigroup and J.P. Morgan acted as joint book-running managers for the offering, and Zelman Partners LLC, Houlihan Lokey and Comerica Securities acted as co-managers for the offering. 

Company Quote

0.52 +2.57%
21 Nov 2014