Paulson buys common stock at $1.05, convertible preferreds at $1.15
By Devika Patel
Knoxville, Tenn., Oct. 15 - William Lyon Homes completed a $30 million private placement of stock and convertible preferred stock with Paulson & Co. Inc. on Oct. 12, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 15,238,095 class A common shares at $1.05 per share and 12,173,913 preferreds at $1.15 per share or preferred.
Each preferred is convertible into one class A common share. It is initially convertible into stock at the same conversion price as the company's class C common stock.
The private homebuilder is based in Newport Beach, Calif.
| Issuer: | William Lyon Homes
|
| Issue: | Common stock, convertible preferred stock
|
| Amount: | $30 million
|
| Warrants: | No
|
| Investor: | Paulson & Co. Inc.
|
| Settlement date: | Oct. 12
|
|
|
| Common stock
|
| Amount: | $16 million
|
| Shares: | 15,238,095
|
| Price: | $1.05
|
|
|
| Preferreds
|
| Amount: | $14 million
|
| Preferreds: | 12,173,913
|
| Price: | $1.15
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
