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Adams Homes, Inc. - Tender Offer - Results

Adams Homes Announces Tender Offer Results and Closing of $250 Million Senior Note Offering


06 OCTOBER 2023


Full announcement including disclaimers and disclosures available via Prnewswire


PENSACOLA, Fla., Oct. 6, 2023 /PRNewswire/ -- Adams Homes, Inc. ("Adams Homes"), one of the largest private homebuilders in the United States, announced today that as of 5:00 p.m. New York City time on October 4, 2023 (the "Early Participation Date"), holders of its outstanding 7.500% Senior Notes due 2025 (the "Notes") had validly tendered approximately $148.1 million in aggregate principal amount of the Notes in connection with Adams Homes' offer to purchase for cash up to $100 million in aggregate principal amount of the Notes (the "Tender Offer"), which Adams Homes commenced on September 21, 2023.


As a result of the oversubscription of the Tender Offer, Adams Homes has accepted for purchase tendered notes on a prorated basis in the manner described in Adams Homes' Offer to Purchase dated September 21, 2023. The following table sets forth the outstanding principal amount of Notes, the principal amount that had been tendered and not withdrawn as of the Early Participation Date and the principal amount accepted for purchase and the approximate proration factor:"


Total consideration of $1,002.50 for each $1,000 principal amount of Notes, plus accrued and unpaid interest, is expected to be paid today, October 6, 2023 to the holders of Notes tendered and accepted for purchase (the "Total Consideration"). The Total Consideration includes an early participation payment of $30.00 per $1,000 principal amount of Notes accepted for purchase. As a result of the oversubscription of the Tender Offer, Adams Homes will purchase Notes validly tendered as of the Early Participation Date using the approximate proration factor of 67.6%. No additional Notes tendered will be accepted under the terms of the Tender Offer. Adams Homes expects to return any Notes tendered but not accepted for payment promptly after the Early Participation Date."


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Adams Homes Commences Cash Tender Offer for up to $100,000,000 outstanding principal amount of its 7.500% Senior Notes Due 2025


21 SEPTEMBER 2023


Full announcement including disclaimers and disclosures available via Prnewswire


"PENSACOLA, Fla., Sept. 21, 2023 /PRNewswire/ -- Adams Homes, Inc. ("Adams Homes"), one of the largest private homebuilders in the United States, today commenced an offer to purchase for cash up to $100,000,000 aggregate principal amount (subject to increase by the Company, the "Maximum Tender Amount") of the 7.500% Senior Notes Due 2025 (the "Notes") upon the terms and subject to the conditions set forth in the Offer to Purchase, dated September 21, 2023.

Information relative to the tender offer is set forth in the table below."



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