By Real Estate Daily News
New York, NY — LF Capital Acquisition Corp. (NASDAQ: LFAC)(“LF Capital”) announced that it has entered into a definitive merger agreement (the “Merger Agreement”) with Landsea Homes Incorporated (“Landsea Homes”) in a transaction valued at $510 million. Landsea Homes is a high-growth residential homebuilder based in Newport Beach, CA that is focused on entry-level and move-up price points in attractive markets throughout California and Arizona.
Post-closing, the combined company’s strong balance sheet will position Landsea Homes to expand its business both within its core markets and potential new high growth markets organically and via potential acquisitions. Upon completion of the transaction, the combined company will be named Landsea Homes Corporation and its common stock, warrants and units will remain Nasdaq-listed under the new ticker symbols “LSEA,” “LSEAW,” and “LSEAU”, respectively.
