Green Brick Partners Announces Launch of Secondary Offering of Shares of Common Stock by Selling Stockholders
January 25 2021 - 6:23AM
Green Brick Partners, Inc. (Nasdaq: GRBK), a leading national
homebuilder and land development company, today announced the
commencement of an underwritten public offering (the “Offering”) of
6,000,000 shares of Green Brick common stock by certain affiliates
of Greenlight Capital, Inc. (the “Selling Stockholders”). In
addition, the Selling Stockholders are expected to grant the
underwriters a 30-day option to purchase up to an additional
900,000 shares of Green Brick common stock. Green Brick is not
offering any shares of its common stock in the Offering and will
not receive any proceeds from the sale of shares in the Offering.
Barclays Capital Inc. and Goldman Sachs & Co. LLC are acting
as joint book-running managers for the Offering.
Green Brick has filed a shelf registration statement on Form S-3
relating to the Offering (including a prospectus) with the
Securities and Exchange Commission (the “SEC”) that has become
effective. A preliminary prospectus supplement relating to the
Offering will also be filed with the SEC. Before you invest, you
should read the prospectus, the preliminary prospectus supplement
and any other documents that Green Brick may file with the SEC for
more complete information about the Company and this Offering. A
copy of the preliminary prospectus supplement and accompanying
prospectus relating to the Offering may be obtained by using EDGAR
on the SEC website at www.sec.gov or by contacting: (1) Barclays
Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, by calling (888) 603-5847, or by email
at barclaysprospectus@broadridge.com or (2) Goldman Sachs & Co.
LLC, Attention: Prospectus Department, 200 West Street, New York,
New York 10282, by telephone at 1-866-471-2526 or by emailing
prospectus-ny@ny.email.gs.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Green Brick Partners, Inc.
Green Brick Partners, Inc. (Nasdaq: GRBK) is a diversified
homebuilding and land development company. Green Brick owns four
homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes,
Southgate Homes and Trophy Signature Homes), as well as a
controlling interest in homebuilders in Atlanta, Georgia (The
Providence Group), Port St. Lucie, Florida (GHO Homes), and Dallas,
Texas (Centre Living Homes). Green Brick also owns a noncontrolling
interest in Challenger Homes in Colorado Springs, Colorado and
retains interests in related financial services platforms,
including Green Brick Title, Providence Group Title, and Green
Brick Mortgage. The Company is engaged in all aspects of the
homebuilding process, including land acquisition and development,
entitlements, design, construction, marketing, and sales for its
residential neighborhoods and master planned communities.
Forward-Looking and Cautionary
Statements:This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. All statements other than
statements of historical or current fact included in this press
release are forward-looking statements. Forward-looking statements
include statements concerning the conduct of the Offering and the
size and terms of the Offering. Forward-looking statements are
subject to a number of risks and uncertainties, many of which
involve factors or circumstances that are beyond Green Brick’s
control, including, without limitation, risks and uncertainties
related to market conditions, that the size of the Offering could
change or the Offering could be terminated, and the satisfaction of
customary closing conditions related to the Offering. Actual
results could differ materially from those stated or implied in
forward-looking statements due to a number of factors, including
but not limited to, risks detailed in the sections entitled “Risk
Factors” and elsewhere in Green Brick’s Annual Report Annual Report
on Form 10-K and its Quarterly Report on Form 10-Q for the period
ended September 30, 2020 filed with the Securities and Exchange
Commission, as well as in the registration statement on Form S-3
related to the shares filed with the SEC. The forward-looking
statements included in this press release should not be unduly
relied upon, represent Green Brick’s views only as of the date of
this press release and do not represent Green Brick’s views as of
any subsequent date. Green Brick undertakes no intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, changes in
Green Brick’s expectations or otherwise, except as required by
law.
Contact: Richard A. CostelloChief Financial Officer(469)
573-6755
Green Brick Partners (NASDAQ:GRBK)
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