Core Points - The Company announced an extension of the Expiration Date for its cash tender offer to purchase Landsea Homes' outstanding 8.875% Senior Notes due 2029 and to solicit consents from holders of the Notes [1][2] Group 1: Tender Offer Details - The Expiration Date has been extended from June 11, 2025, to June 23, 2025, unless further extended or terminated [2] - As of the current date, the Company received tenders and consents from holders amounting to $293,848,000, which is approximately 97.95% of the total outstanding principal amount of the Notes [3] - The consideration payable for the Notes includes $994.38 for each $1,000 in principal amount, with an Early Participation Premium of $50, leading to a total consideration of $1,044.38 for those who tendered by the Early Tender Date [3][4] Group 2: Conditions and Amendments - The consummation of the Tender Offer is subject to certain conditions, including the completion of a Merger and a financing condition [7] - The Company intends to extend the Expiration Date until the closing of the Merger, and it reserves the right to waive any conditions to the Tender Offer [7] - A supplemental indenture was entered into on May 29, 2025, to effect proposed amendments, which will only become operative if a majority of the Notes are accepted for purchase [7][8]

NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) -- Lido Merger Sub, Inc. (the “Company”) announced today that, according to information provided by Global Bondholder Services Corporation, the Information and Tender Agent for the Company’s previously announced cash tender offer (the “Tender Offer”) and consent solicitation (the “Consent Solicitation”), as of 5:00 p.m., New York City time, on May 29, 2025, the Company had received tenders and consents from holders of $293,848,000 in aggregate principal amount of Land ...

Core Viewpoint - The Company is extending the Early Tender Date for its cash tender offer to purchase Landsea Homes' outstanding 8.875% Senior Notes due 2029 and is increasing the Tender Consideration and Total Consideration payable in connection with the Tender Offer [1][3]. Group 1: Tender Offer Details - The Early Tender Date has been extended from May 27, 2025, to May 29, 2025, at 5:00 p.m. New York City time [2]. - The Tender Consideration for the 8.875% Senior Notes is set at $994.38 per $1,000 in principal amount, with an Early Participation Premium of $50.00, bringing the Total Consideration to $1,044.38 [3][4]. - Holders whose Notes are accepted will receive accrued and unpaid interest up to the settlement date [5]. Group 2: Conditions and Future Actions - The consummation of the Tender Offer is subject to certain conditions, including the completion of a Merger, expected to close early in the third quarter of 2025 [7]. - If the requisite consents for the Notes are not obtained and the Merger is completed, the Company will initiate a "Change of Control Offer" to repurchase the Notes [7][8]. - The Total Consideration offered is higher than the repurchase price under the Change of Control Offer as per the Indenture [8].

NEW YORK, May 13, 2025 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by Landsea Homes Corporation (NASDAQ: LSEA) and its board of directors concerning the proposed acquisition of the company by New Home Co. Stockholders will receive $11.30 for each share of Landsea Homes stock that they hold. The transaction is valued at approximately $1.2 billion and is expected to close in the third quarter of 2025.If you are a stockholder of Landsea Homes Corporation and are interes ...

Group 1 - Monteverde & Associates PC is investigating Landsea Homes Corporation regarding its proposed merger with New Home Co, which involves a tender offer to acquire all outstanding shares at $11.30 per share in cash [1] - Monteverde & Associates PC has a successful track record in recovering millions for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report [1] - The firm operates from the Empire State Building in New York City and specializes in class action securities litigation [2][3] Group 2 - The firm encourages shareholders with concerns about Landsea Homes Corporation to contact them for additional information free of charge [3] - Monteverde & Associates PC emphasizes that no company, director, or officer is above the law, reinforcing their commitment to shareholder rights [3] - The firm has a history of litigating and recovering money for shareholders, including cases that have reached the U.S. Supreme Court [2]

Core Insights - Landsea Homes Corporation (LSEA) reported disappointing first-quarter 2025 results, with adjusted earnings and total revenues falling short of the Zacks Consensus Estimate [1][4] - The company experienced a year-over-year decline in bottom line while total revenues increased [1] Financial Performance - LSEA reported a loss per share of $0.05, which was worse than the consensus estimate of a loss of $0.03 per share; in the same quarter last year, the company had adjusted earnings per share of $0.10 [4] - Total revenues reached $310.8 million, missing the consensus mark of $320 million by 2.9%, but grew 6% year-over-year from $294 million [4] Segment Performance - Home Sales segment revenues were $299.4 million, reflecting a 2.3% increase from the prior-year quarter; the company delivered 643 new homes, up 27.3% year-over-year, with an average selling price (ASP) of $466,000, down 19.5% year-over-year [5] - Net new home orders rose 11.1% to 679 homes, valued at $317.8 million, with a cancellation rate of 9%, down from 10% a year ago [6] - Lot Sales & Other segment revenues surged 689.4% year-over-year to $11.4 million, with total lots owned or controlled by LSEA increasing to 10,516 from 10,349 a year ago [8] Margin and Cost Analysis - Home closing gross margin contracted by 190 basis points year-over-year to 13%, primarily due to higher discounts, incentives, and increased interest costs [7] Debt and Cash Position - As of March 31, 2025, cash and cash equivalents totaled $36.7 million, down from $53.3 million at the end of 2024; total debt increased to $727.5 million from $725.4 million [9] - The debt to capital ratio was 52.1%, up from 51.8% at the end of 2024, with net debt to total capital at 48.3%, an increase from 47.7% [9] Acquisition Announcement - On May 12, 2025, Landsea Homes announced a definitive agreement for acquisition by New Home Co. at $11.30 per share, representing an enterprise value of approximately $1.2 billion and a 61% premium to LSEA's closing share price on that date [11] - The acquisition is expected to be completed by early third quarter of 2025, pending customary closing conditions [12]

Landsea Homes (LSEA) Q1 2025 Earnings Call May 13, 2025 10:00 AM ET Company Participants Drew Mackintosh - Founder and PrincipalJohn Ho - CEO & DirectorMike Forsum - COO & PresidentChris Porter - CFO Operator Good day, everyone, and welcome to today's Landsea Homes Corporation First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. Please note, this call may be recorded, and I will be standing by if you should need any assistance. It is now my pleasure to tu ...

Financial Data and Key Metrics Changes - Landsea Homes recorded a net loss of $7.3 million in Q1 2025, translating to a net loss of $0.20 per diluted share [4] - Home sales revenue increased by 2% year over year, driven by a 27% increase in deliveries, despite a 20% decline in average closing prices [4][16] - The gross margin before inventory impairments was reported at 13.5%, while the adjusted gross margin remained consistent at 20% [17] Business Line Data and Key Metrics Changes - The company delivered 643 homes in Q1 2025, which was near the midpoint of the guidance of 600 to 700 closings [12] - Florida led the delivery contributions with a 52% growth in deliveries and a 53% growth in revenue [16] - ASPs were up year over year in Florida and Texas, while ASPs in Arizona declined slightly [13] Market Data and Key Metrics Changes - Net new orders increased by 11% year over year, with a sales pace of 3.0 homes per community per month [5] - The sales pace in Q1 was at the lower end of the targeted range of 3 to 4 sales per community per month, with Arizona posting the highest absorption pace at 3.8 [13] - The company experienced uneven new home demand conditions, with consistent traffic levels offset by buyer hesitancy [13] Company Strategy and Development Direction - The company aims to return to a 50-50 split between spec and build-to-order closings over time, emphasizing product differentiation to attract customers [6][7] - A strategic decision was made to sell through some spec home inventory to balance sales activity [6] - The focus on presales versus spec homes is expected to alleviate margin pressure and provide better visibility into future closings [15] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the long-term outlook for the housing industry, citing the need for additional housing supply [11] - Financing incentives are expected to remain elevated through 2025, with costs fluctuating with the mortgage rate environment [19] - The company believes that the homebuilding ecosystem self-corrects over time, and the industry's move towards a more land-light operating model may accelerate this correction [14] Other Important Information - The company ended the quarter with $256 million in liquidity, including $52.3 million in cash and cash equivalents [19] - The debt to total capital ratio was 52.1%, reflecting a 30 basis point increase from year-end [20] Summary of Q&A Session - The call did not open for questions due to a transaction announcement made prior to the call [22]

Landsea Homes (LSEA) Q1 2025 Earnings Call May 13, 2025 10:00 AM ET Speaker0 Good day, everyone, and welcome to today's Landsea Homes Corporation First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. Please note, this call may be recorded, and I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Drew McIntosh, Investor Relations. Please go ahead. Speaker1 Good morning and welcome to Lansing Homes' fi ...

Core Viewpoint - Lido Merger Sub, Inc. has initiated a cash tender offer to purchase all outstanding 8.875% Senior Notes due 2029 of Landsea Homes Corporation, contingent upon the completion of the merger agreement dated May 12, 2025 [1][9]. Tender Offer and Consent Solicitation - The Tender Offer will expire on June 11, 2025, unless extended or terminated earlier [3]. - Holders who tender their Notes by May 27, 2025, will receive $1,040 per $1,000 in principal amount, which includes a $50 early participation premium [3][4]. - After the Early Tender Date, holders will receive $990 per $1,000 in principal amount [3][4]. - The total amount for the Tender Offer is $300 million for the 8.875% Senior Notes due 2029 [4]. Purpose of Consent Solicitation - The Consent Solicitation aims to eliminate the requirement for a "Change of Control Offer" and to remove restrictive covenants and certain events of default in the indenture governing the Notes [7]. - Holders must tender their Notes to deliver their consents, and vice versa [8]. Conditions for Completion - The consummation of the Tender Offer is subject to certain conditions, including the completion of the merger and a financing condition [9]. - The merger is expected to close early in the third quarter of 2025, with the possibility of extending the Expiration Date until the merger closes [9]. - If requisite consents are not obtained, a "Change of Control Offer" will be initiated to repurchase the Notes [9].