Landsea Homes Corporation (LSEA), a prominent publicly traded residential homebuilder, has recently made a significant announcement regarding its stock buyback plan. The company's largest stockholder, Landsea Holdings Corporation, has initiated a secondary offering of 2,600,000 shares of the company's common stock. Alongside this offering, Landsea Homes intends to repurchase 390,000 shares from the Selling Stockholder. This strategic move demonstrates the company's confidence in its future prospects. B. Riley Securities is acting as the sole bookrunning manager in the Offering, with Wedbush Securities serving as the co-manager.

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Landsea Homes' Secondary Offering

Landsea Homes Corporation has disclosed that its largest stockholder, Landsea Holdings Corporation, has commenced a secondary offering of 2,600,000 shares of the company's common stock. This offering provides an opportunity for investors to acquire shares of Landsea Homes and participate in the company's future growth. Additionally, the underwriters have been granted a 30-day option to purchase up to an additional 390,000 shares of common stock, which reflects the potential confidence in Landsea Homes' value.

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Company's Stock Repurchase Plan

In a strategic move, Landsea Homes Corporation has announced its intention to repurchase 390,000 shares of common stock from the initial number of shares offered by the Selling Stockholder. The company plans to execute this repurchase at a per-share price equal to the public offering price. To fund the repurchase, Landsea Homes will utilize its available cash reserves. The share repurchase is subject to the closing of the Offering and has received unanimous approval from the Company's Board of Directors and Audit Committee.