Century Communities, Inc. now owns or controls over 4,000 lots across more than 50 communities and is well positioned to meet increasing demand for new homes in Colorado.
Denver, CO (PRWEB) May 10, 2013
Century Communities, Inc. (“Century”), a Denver-based homebuilder, announced today that it has completed its offering of 12,075,000 shares of its common stock (the “Common Stock”) for aggregate gross proceeds of $241.5 million, including proceeds from the exercise in full by FBR Capital Markets & Co. of its additional allotment option to purchase 1,575,000 shares of Common Stock. FBR Capital Markets & Co. acted as the sole initial purchaser/placement agent for the offering.
“Century intends to use the proceeds from the offering primarily for the acquisition and development of land and for other general corporate purposes, including development, home construction and other related purposes,” said Dale Francescon, the homebuilder’s CO-CEO. “Century Communities, Inc. now owns or controls over 4,000 lots across more than 50 communities and is well positioned to meet increasing demand for new homes in Colorado. As a company, we are focused on acquiring only the quality locations that showcase and deliver our highly desirable product and completion of this offering will help us do that at the pace we feel the market will support,” added Robert Francescon, CO-CEO.
Century Communities has become one of Colorado’s fastest growing homebuilders, a Top 5 Colorado builder and Top 100 National builder; helping homebuyers all along the Front Range achieve the Colorado Dream of new home ownership. With the Francescons remaining the largest shareholders of Century Communities, Inc., the company intends to grow its market share in Colorado as well as expand into selected additional markets in the Western United States.
The Common Stock was offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A, to accredited investors in the United States pursuant to Regulation D, and to investors outside the United States pursuant to Regulation S under the Securities Act of 1933. The Common Stock have not been registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and applicable state laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Common Stock or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words like “may,” “will,” “likely,” “should,” “expect,” “anticipate,” “future,” “plan,” “believe,” “intend,” “goal,” “seek,” “estimate,” “project,” “continue” and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, changes in the condition of the U.S. economy and, in particular, the U.S. real estate market.
The forward-looking statements included in this press release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.