GREENWOOD VILLAGE, CO—Colorado-based home builder Century Communities Inc. has launch its initial public offering.
The offering is comprised of 4,480,000 shares of common stock, consisting of 4,000,000 shares being offered by the Century and 480,000 shares being offered by certain stockholders.. The initial public offering price is expected to be between $23.00 and $26.00 per share. The company expects to grant the underwriters an option to purchase up to an additional 672,000 shares of common stock. Century has applied to list its common stock on the New York Stock Exchange under the symbol “CCS.”
Net proceeds from this offering for the acquisition and development of land, home construction and other related purposes. The company will not receive any proceeds from the sale of shares by the selling stockholders.
FBR, J.P. Morgan and Deutsche Bank Securities are acting as book-runners of the offering. Zelman Partners LLC and Builder Advisor Group are acting as co-managers. The offering of these securities is being made only by means of a prospectus. Copies of the preliminary prospectus can be obtained from the book-runners.
A registration statement, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective.