Recent initial public offerings in the General Contractors & Builders IPOs category.
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Slide #1. LGI Homes Inc. — Initial Public Offering
LGI Homes Inc.
Price Per Share:
LGI Homes, Inc. announced the pricing of its initial public offering of 9,000,000 shares of common stock at the initial public offering price of $11.00 per share. LGI shares are expected to begin trading on the NASDAQ Global Select Market under the symbol "LGIH" on Thursday, November 7, 2013, and the offering is expected to close on November 13, 2013. In addition, LGI has granted the underwriters a 30-day option to purchase up to 1,350,000 additional shares of common stock at the initial public offering price. LGI expects to receive net proceeds from this offering of approximately $89.1 million, after deducting underwriting discounts and estimated offering expenses. LGI will use $36.9 million of the net proceeds from the offering as the cash portion of the purchase price to acquire joint venture interests in four joint ventures. LGI owns the other 15% equity interest in, and manages the day?to?day operations of, these joint ventures. LGI expects to use the remainder of the net proceeds for working capital and for general corporate purposes, including the acquisition of land, development of lots and construction of homes.