The New Home Company Inc. Announces Pricing of Offering of 7.25% Senior Notes Due 2025
October 14 2020 - 4:10PM
Business Wire
The New Home Company Inc. (NYSE: NWHM) (the “Company”) today
announced that it has priced a private offering of $250.0 million
in aggregate principal amount of 7.25% senior notes due 2025 (the
“2025 notes”). The 2025 notes will be issued at an offering price
of 100% of their face amount, which represents a yield to maturity
of 7.25%. The Company expects to close this offering on October 28,
2020, subject to the satisfaction of customary closing
conditions.
The Company intends to use the net proceeds from this offering,
together with cash on hand, to fund the redemption of all of the
Company’s outstanding 7.25% senior unsecured notes due 2022 and pay
related fees and expenses.
The 2025 notes are being offered and sold to persons reasonably
believed to be qualified institutional buyers pursuant to Rule 144A
under the Securities Act of 1933, as amended (the “Securities
Act”), and to non-U.S. persons outside the United States in
compliance with Regulation S under the Securities Act. The 2025
notes have not been registered under the Securities Act or the
securities laws of any other jurisdiction and may not be offered or
sold in the United States absent registration or an applicable
exemption from such registration requirements.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the 2025 notes or any other
securities and shall not constitute an offer or a solicitation of
an offer to buy, or a sale of, the 2025 notes or any other
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any state or any
jurisdiction. Any offer, if at all, will be made only pursuant to
Rule 144A or Regulation S under the Securities Act.
Forward-Looking Statements
Various statements contained in this press release, including
those that express a belief, anticipation, expectation or
intention, as well as those that are not statements of historical
fact, are “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995 (set forth in
Section 27A of the Securities Act and Section 21E of the Securities
Exchange Act of 1934, as amended). Any statements contained herein
that do not describe historical facts, including but not limited to
statements regarding the offering, the anticipated use of proceeds
of the offering and the expectations regarding size and timing of
completion of the offering, are forward-looking statements that
involve risks and uncertainties that could cause actual results to
differ materially from those discussed in such forward-looking
statements. Such risks and uncertainties include, among others, the
risks identified in the Company’s filings with the Securities and
Exchange Commission, including, but not limited to, the Company’s
Annual Report on Form 10-K for the year ended December 31, 2019 and
Quarterly Reports on Form 10-Q for the quarters ended March 31,
2020 and June 30, 2020. Any of these risks and uncertainties could
materially and adversely affect the Company’s results of
operations, which would, in turn, have a significant and adverse
impact on the Company. The Company cautions you not to place undue
reliance on any forward-looking statements, which speak only as of
the date they are made. The Company undertakes no obligation to
update publicly any forward-looking statements to reflect new
information, events or circumstances after the date they were made
or to reflect the occurrence of unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20201014005954/en/
Investor Relations | Drew Mackintosh | 949-382-7838 |
investorrelations@nwhm.com
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