Brief: Great Southern Homes to become a public company through partnership with Diamondhead Holdings under the name United Homes Group(UHG)

United Homes

12/09/2022 12:07

Sept 12 (Reuters) - DiamondHead Holdings Corp  DHHC.O :
    * GREAT SOUTHERN HOMES, INC., A LEADING PRIVATE HOMEBUILDER
IN THE
SOUTHEAST, TO BECOME A PUBLIC COMPANY THROUGH A BUSINESS
COMBINATION WITH DIAMONDHEAD HOLDINGS CORP. UNDER THE NAME
UNITED HOMES GROUP, INC. (UHG)
    * DIAMONDHEAD - UPON CLOSING OF DEAL, GSH WILL BECOME A
PUBLICLY
TRADED COMPANY, AND DIAMONDHEAD HOLDINGS CORP. WILL BE RENAMED
UNITED HOMES GROUP
    * DIAMONDHEAD HOLDINGS CORP - DIAMONDHEAD IS EXPECTED TO
REMAIN
LISTED ON NASDAQ CAPITAL MARKET AND IS EXPECTED TO TRADE UNDER
NEW TICKER SYMBOL "UHG"
    * DIAMONDHEAD HOLDINGS CORP - TRANSACTION VALUES COMBINED
COMPANY
AT A PRO FORMA ENTERPRISE VALUE OF APPROXIMATELY $572 MILLION,
AS OF DECEMBER 31, 2022
    * DIAMONDHEAD HOLDINGS CORP - OBLIGATION OF GSH TO COMPLETE
TRANSACTION IS SUBJECT TO A MINIMUM CASH CONDITION OF $125
MILLION

Source text for Eikon:  ID:nBw1LVlqRa 
Further company coverage:  DHHC.O 

 ((Reuters.Briefs@thomsonreuters.com;))