Green Brick Partners Announces Pricing of Secondary Offering of Shares of Common Stock by Selling Stockholders
January 25, 2021 at 09:20 AM EST
PLANO, Texas, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Green Brick Partners, Inc. (Nasdaq: GRBK), a leading national homebuilder and land development company, today announced the pricing of a secondary offering of 6,000,000 shares of its common stock by certain affiliates of Greenlight Capital, Inc. (the “Selling Stockholders”) for total gross proceeds (before estimated expenses) of approximately $125.7 million. The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of Green Brick common stock. Green Brick will not receive any of the proceeds from the sale of the shares by the Selling Stockholders. The offering is expected to close on January 27, 2021, subject to customary closing conditions.
The underwriters for the offering intend to offer the shares for sale from time to time in one or more transactions on NASDAQ, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
Barclays Capital Inc. and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering.
Green Brick has filed a shelf registration statement on Form S-3 relating to the offering (including a prospectus) with the Securities and Exchange Commission (the “SEC”) that has become effective. The offering has been made only by means of a prospectus supplement and the accompanying prospectus. Before you invest, you should read the prospectus supplement, the accompanying prospectus and any other documents that Green Brick may file with the SEC for more complete information about the Green Brick and this offering. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained by using EDGAR on the SEC website at www.sec.gov or by contacting: (1) Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by calling (888) 603-5847, or by email at firstname.lastname@example.org or (2) Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526 or by emailing email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an 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 Green Brick Partners, Inc.
Green Brick Partners, Inc. (Nasdaq: GRBK) is a diversified homebuilding and land development company. Green Brick owns four homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes, Southgate Homes and Trophy Signature Homes), as well as a controlling interest in homebuilders in Atlanta, Georgia (The Providence Group), Port St. Lucie, Florida (GHO Homes), and Dallas, Texas (Centre Living Homes). Green Brick also owns a noncontrolling interest in Challenger Homes in Colorado Springs, Colorado and retains interests in related financial services platforms, including Green Brick Title, Providence Group Title, and Green Brick Mortgage. The Company is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master planned communities.
Forward-Looking and Cautionary Statements:
Contact: Richard A. Costello