Landsea Homes Selling Shareholder Offloads 4.2M Shares At $9.75/Share Via Secondary Common Stock Offering
Portfolio Pulse from Benzinga Newsdesk
Landsea Homes Corporation (NASDAQ:LSEA) has announced the pricing of a secondary offering by its stockholder, Green Investment Alpha Limited. The offering includes 4,207,574 shares of the company's common stock at a price of $9.75 per share. The stockholder has also granted the underwriters a 30-day option to purchase up to 631,136 additional shares. The offering is expected to close on August 24, 2023.
August 22, 2023 | 10:05 am
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Landsea Homes' secondary offering could potentially dilute the value of existing shares, which may negatively impact the stock price in the short term.
Secondary offerings often lead to dilution of existing shares as more shares are introduced into the market. This can lead to a decrease in the stock price as the value of each share is diluted. However, the impact may be short-lived as the market adjusts to the new share count.
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