The new home company announces launch of initial public offering
Aliso viejo, calif.--(business wire)--the new home company (the “company” or “new home”) announced today that it has commenced an initial public offering of 7,812,500 shares of its common stock. the initial public offering price is currently expected to be between $15.00 and $17.00 per share. the company expects to grant the underwriters an option to purchase up to an additional 1,171,875 shares of common stock to cover over-allotments. the company’s common stock has been approved for listing on the new york stock exchange under the symbol "nwhm," subject to official notice of issuance of the shares. the company intends to use the net proceeds from the offering primarily for the acquisition of land, development of lots, home construction and other related purposes. if the underwriters exercise their option to purchase additional shares, the company will use the net proceeds from the sale of those additional shares to purchase an equivalent number of shares of common stock from its non-management, pre-ipo institutional investors. citigroup, j.p. morgan and credit suisse are acting as joint book-runners of the offering. zelman partners llc is acting as lead manager of the offering. the offering of these securities is being made only by means of a prospectus. copies of the preliminary prospectus can be obtained from: attention: c/o broadridge financial solutions1155 long island avenueedgewood, ny 11717phone: (800) 831-9146 j.p. morgan securities llc attention: c/o broadridge financial solutions 1155 long island avenue edgewood, ny 11717 phone: (866) 803-9204 attention: prospectus department one madison avenue new york, ny 10010 phone: (800) 221-1037 a registration statement, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the securities and exchange commission, but has not yet become effective. these securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective. this press release shall not constitute an offer to sell or the solicitation of any 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. about the new home company new home is a new generation homebuilder focused on the design, construction and sale of innovative and consumer-driven homes in major metropolitan areas within select growth markets in california, including coastal southern california, the san francisco bay area and metro sacramento. forward-looking statements this press release contains forward-looking statements within the meaning of the federal securities laws. forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. in some cases, forward-looking statements may be identified by the use of words such as “may,” “will,” “should,” “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “outlook” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of solely historical matters. these forward-looking statements include any statements regarding the company’s strategic and operational plans. you should not place undue reliance on these statements because they are subject to numerous uncertainties and factors relating to the company’s operations and business environment, all of which are difficult to predict and many of which are beyond the company’s control. forward-looking statements are based on information available at the time those statements are made and/or management’s reasonable belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. the company does not intend, and disclaims any obligation, to publicly update or revise any forward-looking statements after the date hereof to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes, except as required by federal securities laws. these and other factors that could cause the company’s future results to differ materially from any forward-looking statements are discussed in the “risk factors” and “management’s discussion and analysis of financial condition and results of operations” sections and elsewhere in the company’s registration statement relating to this offering.
