Landsea Homes' Largest Stockholder Commences Secondary Offering Of About 2.43 Mln Shares

(RTTNews) - Landsea Homes Corp. (LSEA) said that its largest stockholder, Landsea Holdings Corporation, has commenced a secondary offering of about 2.43 million shares of the company's common stock. The Selling Stockholder will also grant the underwriters a 30-day option to purchase up to an additional 365,217 shares of common stock.

The company said it is not offering any shares of its common stock in the Offering and will not receive any of the proceeds from the sale of the shares offered by the Selling Stockholder.

The company also expects certain members of its senior management team and board of directors, as well as a family member of our Chairman, will purchase up to an aggregate of $867,000 in shares of its common stock being offered by the Selling Stockholder in the Offering, at a price equal to the per share Offering price.