Meritage homes announces pricing of convertible senior notes

Scottsdale, ariz., may 07, 2024 (globe newswire) -- meritage homes corporation (nyse: mth, “meritage” or the “company”), the fifth-largest homebuilder in the u.s., today announced the pricing of $500 million aggregate principal amount of its 1.75% convertible senior notes due 2028 (the “notes”). the company also granted the initial purchasers of the notes a 13-day option to purchase up to $75 million of aggregate principal amount of additional notes. the sale of the notes is expected to settle on may 9, 2024, subject to customary closing conditions, and is expected to result in approximately $484.8 million (or approximately $557.8 million if the initial purchasers exercise their option to purchase additional notes in full) in net proceeds to meritage after deducting the initial purchasers' discounts and commissions and estimated offering expenses payable by meritage.
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