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United Homes Group Enhances Capital Structure and Financing
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United Homes Group Enhances Capital Structure and Financing

Story Highlights
  • United Homes Group priced a secondary public offering of 7,420,057 shares.
  • The company used a $70 million loan to refinance and redeem convertible notes, simplifying its capital structure.
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United Homes Group ( (UHG) ) has provided an update.

United Homes Group announced the pricing of a secondary underwritten public offering of 7,420,057 shares of its Class A common stock, which closed on December 11, 2024. The offering, executed through an underwriting agreement with BTIG, LLC and selling stockholders, did not bring proceeds to the company itself, as the shares were sold by the selling stockholders. Additionally, the company entered into a redemption agreement to cancel its outstanding convertible promissory notes, funded by a $70 million subordinated loan under a credit agreement with Kennedy Lewis Agency Partners. This financial maneuver aims to simplify the company’s capital structure, reduce potential dilution from convertible notes, and enhance profitability through flexible financing arrangements.

More about United Homes Group

United Homes Group, Inc. is a publicly traded residential builder headquartered in Columbia, South Carolina, focusing on the southeastern U.S. markets with 55 active communities. The company employs a land-light operating strategy, principally constructing and selling single-family houses, and aims to expand into high-growth markets with favorable demographic trends.

YTD Price Performance: -50.18%

Average Trading Volume: 48,811

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $203.3M

For detailed information about UHG stock, go to TipRanks’ Stock Analysis page.

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