LGI Homes, Inc. Announces Private Offering of $400 Million of Unsecured Senior Notes
June 21 2018 - 2:00PM
LGI Homes, Inc. (NASDAQ:LGIH) (“LGI Homes” or the “Company”) today
announced that it has commenced a private offering of $400,000,000
aggregate principal amount of unsecured Senior Notes due 2026 (the
“Notes”) to persons reasonably believed to be qualified
institutional buyers in the United States pursuant to Rule 144A
under the Securities Act of 1933, as amended (the “Securities
Act”), and to certain non-U.S. persons in transactions outside the
United States pursuant to Regulation S under the Securities Act.
The timing of pricing and terms of the Notes are
subject to market conditions and other factors. The Notes are
expected to be guaranteed, jointly and severally on a senior
unsecured basis, by the Company’s subsidiaries that guarantee the
Company’s obligations under its revolving credit facility.
LGI Homes intends to use the net proceeds from
the offering to repay a portion of the borrowings under its
revolving credit facility.
The offer and sale of the Notes and the related
guarantees have not been and will not be registered under the
Securities Act or the securities laws of any other jurisdiction and
may not be offered or sold in the United States or to, or for the
benefit of, U.S. persons absent registration under, or an
applicable exemption from, the registration requirements of the
Securities Act.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy the Notes or any other
security and shall not constitute an offer, solicitation or sale in
any state or jurisdiction in which, or to any persons to whom, such
an offer, solicitation or sale would be unlawful. Any offers of the
Notes will be made only by means of a private offering
memorandum.
About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI
Homes, Inc. engages in the design, construction and sale of homes
in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North
Carolina, South Carolina, Washington, Tennessee, Minnesota and
Oklahoma. The Company has a notable legacy of more than 15 years of
homebuilding operations, over which time it has closed over 24,000
homes. For more information about the Company and its new home
developments please visit the Company’s website at
www.LGIHomes.com.
Forward-Looking Statements
Any statements made in this press release that
are not statements of historical fact, including statements about
the Company’s beliefs and expectations, are forward-looking
statements within the meaning of the federal securities laws, and
should be evaluated as such. Forward-looking statements include
statements relating to, among other things, statements about the
intended use of proceeds or other aspects of the offering of the
Notes. Forward-looking statements can generally be identified by
the use of forward-looking terminology, including the terms
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“forecast,” “goal,” “intend,” “may,” “objective,” “plan,”
“potential,” “predict,” “projection,” “should,” “will” or, in each
case, their negative, or other variations or comparable
terminology. For more information concerning factors that could
cause actual results to differ materially from those contained in
the forward-looking statements please refer to the “Risk Factors”
section in the Company’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2017, including the “Cautionary Statement
about Forward-Looking Statements” subsection within the “Risk
Factors” section, and subsequent filings by the Company with the
Securities and Exchange Commission.
The Company bases these forward-looking
statements on its current expectations, plans and assumptions that
it has made in light of its experience in the industry, as well as
its perceptions of historical trends, current conditions, expected
future developments and other factors it believes are appropriate
under the circumstances and at such time. As you read and consider
this press release, you should understand that these statements are
not guarantees of future performance or results. The
forward-looking statements are subject to and involve risks,
uncertainties and assumptions and you should not place undue
reliance on these forward-looking statements. Although the Company
believes that these forward-looking statements are based on
reasonable assumptions at the time they are made, you should be
aware that many factors could cause actual results to differ
materially from those expressed in the forward-looking statements.
The Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. If the Company does update one or more
forward-looking statements, there should be no inference that it
will make additional updates with respect to those or other
forward-looking statements.
CONTACT:
Investor Relations:Caitlin Stiles, (281)
210-2619InvestorRelations@LGIHomes.com
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