Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MIAMI-Lennar Corp. disclosed last week it amended an existing shelf registration statement with plans to issue up to $400 million in new securities.

The Miami-based homebuilder intends to use the proceeds from any such securities offering as a source for possible acquisitions.

“We do not expect to receive any cash proceeds from the issuance of these securities,” according documents the company filed with the Securities and Exchange Commission. “While we are continuously involved in discussions about possible acquisitions, the only transaction we are discussing which currently appears probable would involve our payment of approximately $10 million, which would consist partly of cash and partly of shares of our common stock.”

Over the past four years, the homebuilder has completed several major acquisitions through similar stock or debt offerings, including the acquisition in May last year of U.S. Home Corp. In that deal, Lennar paid U.S. Home shareholders $243 million cash and 13 million shares of Lennar common stock for a total price of about $267 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.