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TOUSA, Inc. (fka TOUSQ) RSS Feed

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Created
06/04/08
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TOUSA, Inc. 4000 Hollywood Boulevard Suite 500 North Hollywood, FL 33021 United States - Map Phone: 954-364-4000 Fax: 954-364-4020 Web Site: http://www.tousa.com BUSINESS SUMMARY TOUSA, Inc., through its subsidiaries, designs, builds, and markets single-family residences, town homes, and condominiums in the United States. The company markets its homes under the Engle Homes brand name in Florida, the Mid-Atlantic, and the western part of United States; under the Newmark Homes brand name in Texas and in Nashville, Tennessee; and under the Trophy Homes brand name to the first-time homebuyers, primarily in Texas. It markets its homes to various homebuyers, including first-time homebuyers, move-up homebuyers, homebuyers who are relocating to a new city or state, buyers of second or vacation homes, active-adult homebuyers, and homebuyers with grown children who want a smaller home. TOUSA also provides various financial services, including mortgage financing to qualified buyers, title insurance and settlement services, and property and casualty insurance products. It markets homes directly, as well as through commissioned sales personnel and independent real estate brokers. The company was founded in 1983 as Newmark Homes Corp and changed its name to Technical Olympic USA, Inc. in June 2002 and then to TOUSA, Inc. in May 2007. TOUSA is based in Hollywood, Florida. TOUSA, Inc. operates as a subsidiary of Technical Olympic SA. On January 29, 2008, Tousa Inc., alongwith affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale. n May 27, 2008, the United States Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division (the "Court") entered an order (the "Order") further extending the interim termination date under the Senior Secured Super-Priority Debtor in Possession Credit and Security Agreement, dated as of January 29, 2008, (as amended on March 15, 2008 and April 29, 2008 (the "DIP Credit Agreement")) from May 23, 2008 to June 11, 2008 (as extended, the "Interim Termination Date"). The Order also terminated the Commitments (as defined in the DIP Credit Agreement) under the DIP Credit Agreement, and any and all obligations related thereto. All other terms of the DIP Credit Agreement and the Court's Interim Order (i) Authorizing the Debtors to Obtain Post petition Financing on a Superpriority and Priming Basis Pursuant to Sections 363 and 364 of the Bankruptcy Code, (ii) Granting Priming Liens and Superpriority Claims to Post petition Lenders Pursuant to Section 364(c) and (d) of the Bankruptcy Code, (iii) Authorizing use of Cash Collateral Pursuant to Section 363 of the Bankruptcy Code, (iv) Providing Adequate Protection to Prepetition Secured Lenders Pursuant to Sections 361, 362, 363, and 364 of the Bankruptcy Code and (v) Prescribing Form and Manner of Notice and Scheduling Time for Final Hearing, dated January 31, 2008 (the "Interim Order"), dated January 31, 2008, continue to govern through and including the extended Interim Termination Date. Estimated Market Cap 10,728,750 as of Jun 4, 2008 Outstanding Shares 59,604,169 as of Nov 9, 2007 Transfer Agent Computershare Investor Services LLC P.O. Box 2500 Jersey City, NJ 07303-2500
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