The announcement of a convertible senior notes offering by Meritage Homes could have a neutral to slightly positive impact on its stock price in the short term. This financial move indicates the company's strategy to raise capital, possibly for expansion or debt refinancing. However, the impact on the stock price will depend on investor perception of the company's growth prospects and how this capital is intended to be used. The offering could dilute existing shareholders if converted to equity, but it also shows confidence in the company's future performance.