Lennar completes spin-off of millrose properties

Miami , feb. 7, 2025 /prnewswire/ -- lennar corporation (nyse: len and len.b, "lennar"), one of the nation's leading homebuilders, and millrose properties, inc. (nyse: mrp, "millrose"), a "first-of-its-kind" homesite option purchase platform, jointly announced today that they have successfully completed the previously announced taxable spin-off (the "spin-off") of millrose from lennar through a distribution of approximately 80% of millrose's stock to lennar's stockholders (the "distribution"). prior to the open of trading on the new york stock exchange today, each holder of lennar class a or class b common stock as of the close of business on january 21, 2025, the record date of the spin-off, received one share of millrose class a common stock, unless the holder elected to receive one share of millrose class b common stock, for each two shares of lennar class a or class b common stock.
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