Each depositary share represents a 1/1000th fractional interest in a share of the Company’s 5.75% Series A Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”). The Company’s depositary shares are expected to begin trading on the NYSE under the symbol “GRBK PRA” within 30 business days of the closing date of this offering, if approved.
Dividends on the Series A Preferred Stock underlying the depositary shares will be paid when declared by the Board at a fixed rate of 5.75% with liquidation preference equivalent to
The Company expects to use the net proceeds of this offering for general corporate and working capital purposes, which may include expansion of the business, repayment of debt, and repurchases of its common stock under the Company’s authorized plan.
The offering of these securities is being made pursuant to an effective shelf registration statement on Form S-3 (333-250977), which was initially filed with the
A copy of the prospectus and prospectus supplement relating to these securities may be obtained, when available, from the website of the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts and typically include the words “anticipate,” “believe,” “consider,” “estimate,” “expect,” “feel,” “intend,” “plan,” “predict,” “seek,” “strategy,” “target,” “will” or other words of similar meaning. Forward-looking statements in this press release include statements regarding the terms and conditions and timing of the offering, the intended use of proceeds and expected listing of the depositary shares on the NYSE. These forward-looking statements reflect the Company’s current views about future events and involve estimates and assumptions which may be affected by risks and uncertainties in its business, as well as other external factors, which could cause future results to materially differ from those expressed or implied in any forward-looking statement. These risks include, but are not limited to, market conditions and the risk that the offering cannot be successfully completed on the anticipated terms, or at all, and that the depositary shares do not meet the NYSE listing requirements. For a more detailed discussion of these and other risks and uncertainties applicable to the Company and the offering, please see the prospectus supplement related to the offering and the Company’s most recent Annual Report on Form 10-K filed with the
For inquiries regarding
Investors Relation Contacts | Media Contact |
Shalott Cecchini, Director of Marketing | |
rcostello@greenbrickpartners.com | scecchini@greenbrickpartners.com |
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