Underwriters Exercise Over Allotment Option on Comstock Homebuilding Companies, Inc. Follow-On Offering
June 22 2005 - 10:00AM
PR Newswire (US)
Underwriters Exercise Over Allotment Option on Comstock
Homebuilding Companies, Inc. Follow-On Offering RESTON, Va., June
22 /PRNewswire-FirstCall/ -- Comstock Homebuilding Companies, Inc.
(NASDAQ:CHCI) (the "Company") a leading regional homebuilder in the
Mid-Atlantic area, today announced that the underwriters on the
Company's follow-on offering had exercised their over allotment
option to purchase an additional 480,000 shares of the Company's
Class A common stock. As outlined in the offering prospectus, the
over allotment option will be filled in full by certain selling
shareholders. Banc of America Securities LLC and BB&T Capital
Markets served as joint lead managers of the follow-on offering
with Robert W. Baird & Company and Ferris, Baker Watts, Inc.
having served as co-managers. When available, copies of the final
prospectus relating to the offering of these securities may be
obtained from Banc of America Securities LLC, Attn: Prospectus
Department, 100 West 33rd Street, New York, NY 10001 or via e-mail
at: . About Comstock Homebuilding Companies, Inc. Comstock is a
production homebuilder that develops, builds, and markets
single-family homes, townhouses, mid-rise condominiums, hi-rise
condominiums, and mixed-use developments. The Company currently
operates in the Washington, D.C. and Raleigh, North Carolina
markets where it targets a diverse range of buyers, including
first-time, early move-up, secondary move-up, empty nester
move-down and active adult home buyers. For more information on
Comstock, please visit http://www.comstockhomebuilding.com/. This
press release includes "forward-looking statements" within the
meaning of the federal securities laws, which involve uncertainties
and risks. These include statements regarding events or
developments that the Company expects or anticipates will occur in
the future, such as statements about the Company's strategies to
improve operating performance. Please refer to the Company's
prospectus and its other filings with the Securities and Exchange
Commission for a complete discussion of these and other important
factors that could cause results to differ materially from those
projected by these forward-looking statements. DATASOURCE: Comstock
Homebuilding Companies, Inc. CONTACT: Al Black of Qorvis
Communications, +1-703-744-7833, or , for Comstock Homebuilding
Companies, Inc. Web site: http://www.comstockhomebuilding.com/
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