Lennar Announces Further Extension of Expiration Date of Exchange Offer

Core Viewpoint - Lennar Corporation is extending the expiration date of its Exchange Offer for shares of Millrose Properties, Inc. due to the ongoing U.S. federal government shutdown, which has prevented the SEC from declaring registration statements effective [1][10]. Exchange Offer Details - The Exchange Offer, initially set to expire on November 14, 2025, has been extended to November 21, 2025 [1]. - The Exchange Offer involves Lennar exchanging approximately 20% of its shares in Millrose for outstanding shares of Lennar Class A common stock [1]. - Completion of the Exchange Offer is contingent upon the SEC declaring the Registration Statement effective, which is currently delayed due to the government shutdown [1][2]. Future Announcements - If the government shutdown persists past November 14, 2025, Lennar will announce whether it will further extend the Exchange Offer or terminate it by 11:59 p.m. on that date [2]. Company Background - Lennar Corporation, founded in 1954, is a leading builder of quality homes across various segments, including affordable and active adult homes [3]. - The company also provides mortgage financing and develops multifamily rental properties nationwide [3].