Landsea Homes Corporation announced that it has priced its previously announced offering (the ?Offering?) of $300,000,000 of 8.875% Senior Notes due 2029 (the ?Notes?). The Notes will be guaranteed, jointly and severally, on a senior unsecured basis, by all of the Company?s material wholly owned subsidiaries as of their issuance (the ?Guarantors?) and will rank pari passu with all other unsecured and unsubordinated indebtedness of the Company and Guarantors. The Offering is expected to settle on or around April 1, 2024, subject to customary closing conditions.

The Company intends to use the net proceeds from the sale of the Notes to pay down a portion of the outstanding borrowings under its revolving credit facility. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the ?Securities Act?), and to non-U.S. persons outside the United States under Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. An offer or solicitation to buy the Notes, if at all, will be made only by means of a confidential offering memorandum.