LOS ANGELES, March 19, 2024 -- B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank, is pleased to have served as the Lead Left Bookrunner in connection with Landsea Homes Corporation's (Nasdaq: LSEA) ("Landsea" or the "Company") recent $32.5 million secondary offering. B. Riley led the sale of 2,800,000 shares of the Company's common stock at a public offering price of $11.60 by Landsea Holdings Corporation ("Selling Stockholder").
"The B. Riley team has been instrumental to our success as a homebuilder and our evolution as a public company," said John Ho, Chief Executive Officer and Director, Landsea Homes Corporation. "We are pleased with their execution on this offering and are thankful to the many investors who participated. We look forward to creating value for our shareholders by delivering on our strategic initiatives in the coming years."
This transaction deconsolidates Landsea Homes from the Selling Shareholder's balance sheet and removes the Company's control status per NASDAQ rules. Read more about the transaction here.
Landsea is a residential homebuilder that designs and builds homes and sustainable master-planned communities, including suburban, single-family detached and attached homes, mid-rise properties, and master-planned communities in Arizona, California, Florida, Colorado and Texas. Learn more about Landsea here.
Larry Goldsmith, Senior Managing Director, B. Riley Securities commented, "We are delighted to remain actively involved in Landsea's growth. Landsea's ability to consistently execute on the Company's growth plans, combined with management's ability to paint a clear and compelling picture of the Company's future to investors, resulted in another highly successful offering."
B. Riley's Investment Banking team was led by Larry Goldsmith and included John Matthews, Mickey Sacks and Jack Russell.
B. Riley's Capital Markets team was led by Jimmy Baker and Ryan Aceto and included Dawn Farrell, Kathy Innis and Samuel Cook. To learn more about our Capital Markets services, click here.
About B. Riley Securities
B. Riley has served as a preeminent fixture in middle market brokerage and investment banking for over 25 years. We provide a full suite of investment banking and capital markets services to companies, financial sponsors, and institutional investors across all industry verticals. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, debt financings, corporate restructuring and recapitalization. Widely recognized for our thematic proprietary equity research, clients benefit from B. Riley's extensive network, industry expertise, and proven execution capabilities of our end-to-end financial services platform. Please see disclosures about B. Riley Securities Research here. The firm is a subsidiary of B. Riley Financial (Nasdaq: RILY). For more information, visit www.brileysecurities.com.
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