Landsea homes agrees to repurchase $30 million in common stock from its controlling stockholder

Newport beach, calif., june 01, 2022 (globe newswire) -- landsea homes corporation (nasdaq: lsea) (“landsea homes” or the “company”), a publicly traded residential homebuilder, announced today that it has entered into an agreement to repurchase approximately $30 million in shares of its common stock owned by landsea holdings corporation (“lhc”), the company's controlling stockholder, at a repurchase price of $6.82 per share, an approximate 5% discount to the closing price of the company's common stock on may 31, 2022, the day before the repurchase agreement was signed. the repurchase represents a 15.9% discount to the 30-day volume-weighted average price of $8.11.
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