Meritage Issues $575M in Notes Through Private Placement

An announcement from Meritage (MTH) is now available.

On May 9, 2024, the Company successfully issued $575 million in Notes to Initial Purchasers through a private placement, circumventing the usual registration requirements under an exemption. These Notes, potentially convertible into up to 3,279,685 shares of Common Stock, will incur an estimated $17.2 million in offering expenses. The Notes and any resulting Common Stock have not been and will not be registered, thus limiting their sale to qualified institutional buyers or those who meet exemption criteria. The company has made this strategic financial move without plans for a subsequent registration statement for the resale of the Notes or the Common Stock.

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