LGI Homes, one of the nation’s fastest-growing homebuilders, announces today that we have confidentially submitted a draft registration statement to the Securities and Exchange Commission for a possible initial public offering of our common stock. The number of shares to be offered and the price range for the offering have not yet been determined. The proposed offering is expected to commence after the Securities and Exchange Commission completes its review process, subject to market and other conditions.
We intend to use the net proceeds from the proposed offering for working capital and general corporate purposes, including the acquisition of land, development of lots, construction of homes, and to acquire certain joint venture interests.
This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933. As required by Rule 135, this press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About LGI Homes
Headquartered in The Woodlands, Texas, we engage in the design and construction of entry-level homes in Texas, Arizona, Florida, and Georgia. Our core markets include Houston, San Antonio, Dallas/Fort Worth, Austin, Phoenix, Tampa, Orlando, and Atlanta. Since commencing operations in 2003, we have constructed and sold over 5,000 homes.
Statements included herein may constitute forward-looking statements which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors.