LGI Homes, announced that they have confidentially submitted a draft registration statement to the Securities and Exchange Commission (SEC) for a possible initial public offering (IPO) of common stock.
The numbers of shares to be offered by LGI Homes and the price range set for the offering have not yet been determined.
The proposed initial public offering is expected to commence once the SEC completes its review process which are subject to market and other conditions.
LGI Homes intends to use the net proceeds from the proposed offering as working capital and for general corporate purposes. Proceeds will also be used to acquire certain joint venture interests, development of lots, acquisition of land and in the construction of homes.
LGI Homes began its operations is 2003 and is based in The Woodlands, Texas. They engage in design and construction of entry-level homes in Texas, Arizona, Florida, and Georgia.
Core markets of LGI Homes include Houston, Atlanta, Dallas/Fort Worth, San Antonio, Orlando, Phoenix, Austin and Tampa.
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