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I am also puzzled maybe there is something more we don't know about, lots of buys today, lets see.
don't see how, it's in their filing with the SEC. Maybe whoever bought the 4200 shares wasn't aware of the ratio.
People still buying at 3.25 good sign? influence them to change the split ratio? any thoughts?
not going to take much more of a drop to get us there at their crappy reverse split, can't say the financials will cause it, can't be too many still holding it.
Yeah hope they change the reverse split. They showed losses due to restructuring coming out of bk I think next quarter should be in the black. Hoping for an ipo open at least in the high 20s just comparing it to TPH lets wait and see. Good luck.
breezed thru it, mainly looking for change in that damn reverse split. Did note not a good quarter- losses, and Delaware probably caused the majority of damage. Didn't read into it enough to see how they would handle it.
Did you have a chance to go through it? Any changes than we already know?
It is a moot point what it is trading on the OTC as split and price pretty much fixed, we will know when the IPO opens. There is no point selling at these levels as the price you may get maybe the same. I am thinking it should trade in the high 20's initially as the housing market is presently hot, lets wait and see. Good Luck.
Yes understand should have done the split as per share price that particular day. This thing will trade more next few weeks lets see I put a sell order at 3.75 not going lower. Not giving away my shares. I checked the other stock seems to be holding well im looking for a re entry point prob after financials I know second half will be good over there.
I'm not worried. Was more than a bit agitated they screwed existing shareholders that bad and shrugged us off.
All hope not lost good company will rebound eventually just the split brought this down. It will trade in low 30s in my estimation. Good luck.
Pretty bad day! at least we know where the bottom is, GL.
it's slipping again, but not like yesterday. Anyway, as long as the SEC has everything they want and no questions, couple months unless they didn't do a good job submitting everything the first time, and if there's a lot of IPOs coming thru pipeline, can slow it down to 6 months. If things go sour in the market/sector or especially in the IPO market, it could get postponed or withdrawn completely. I think they're anxious enough to raise the money to push forward, though, not enough interest in existing common shares to do the raising of money they want, and it's prime housing hunt time.
wild guess is 40-90 days. Means no PRs, etc.
yes relieved here too... it may be in this range for a while, do you know when the IPO is coming out?
TPH offered at $15 with its IPO it is trading at 19 now it was upto 21. LWHS may do better if they offer at 22-24 I think fair price would be 28-29 which translates to where we are now at the OTC, any thoughts?
got a little gain back. WHEW!
It probably is. Just this reverse split is screwing the present shareholders
Thanks johnsyn will try see what happens tomorrow. Who knows this could move higher so an opportunity to sell. I think long term still a good investment.
can always try, don't cave on your ask, even go higher, don't have to sell the whole kaboodle either, enough to get you below $2.70 avg to be worth hanging onto at this time. A lot of IPOs these days, people wait until the restrictions are off, figuring the underwriters will dump at that time. Or just ride it out, but you've got a lot more riding than I do, and if I sold it would actually be at a loss.
Yeah im up about 14% maybe hard to sell.
I have 10k shares.
I can only assume what little is out there, is being sold off with what gains they had, shorters-whose math came out as mine, etc. It just might do it, if it is at profit for you and worth it, I'd probably do the same since it is only worth $2.70-$2.90 when it IPO's, unless 2 surprises happen (1) It IPOs higher than $22-$24, which is unlikely based on valuation, and/or (2) It gets enough notice and it jumps immediately from IPO price and makes it to $32 or better, which I don't see that happening quickly either, since they got embarrassed a few times with FB (overestimated) and LNKD (underestimated), they try harder not to make those mistakes.
30 million shares at 24 dollars makes it a Mc of 720 million.
Im not clear of the reverse split though how that takes place on whats on the otc market.
According to your math do you think it will go further down. I am still little confused as there were no big blocks of sell today.
doubt it is MMs, sure it is people selling before the devaluation.
They're offering 6.5M shares to the underwriters, The S1 filed expressed the reverse split as it was announced. Not sure what the A/S is, but the O/S is 30.8M total combined A and B, A-float will be just under 27M, which also excludes 3M of their incentive awards and stock options they give to employees.
I am a little confused here math doesn't add up, do you think the MMs want to bring it down before the big buys come in? I see price down on small share quantity.
if they do a reverse stock split of 117.6M shares they would end up with 14.25M shares right? but they are offering 8M shares any idea?
Maybe someday LOL need to hit that MC of 739 Million just my thinking, lets see.
finally have an ASK up for $3.90, don't think we'll see the 5s.
Yeah its always traded like this its unknown lets wait see what happens. I still think it will be in the 5s. Need clarification how reverse split works.
big spread, don't see an ASK volume, and that 3.77 only wants 100 shares
well, its trading opened at 4.10.
William Lyon Homes no longer has any publicly traded equity securities. Information contained in this site is provided exclusively for the benefit of the Company’s Senior Note holders.
This statement has been on their website always even while it was trading, I wouldn't go by this.
not going to bet they'll respond to the e-mail with anything but "we're in a quiet period because of the filing" like they did for the conference call for NO Q&A.
Besides sending a request for clarification to their IR, I noticed their site says they no longer trade anything but senior notes. Don't know what their investor page said before today.
William Lyon Homes no longer has any publicly traded equity securities. Information contained in this site is provided exclusively for the benefit of the Company’s Senior Note holders.
I sent an e-mail to their IR.
Friday's Webcast of financials: http://lyonhomes.com/investors/
Maybe they'll come out with a clarification or correction. Or like you say, we'll find out when the market opens.
At 24 they are saying mc 739 million im confused too.
Maybe I don't have enough coffee in me, yet, LOL. But priced between $22 and $24, with a reverse split of 1 for every 8.25 for existing shares means $2.67 to $2.91. I see no asks/bids on L2 yet. Maybe it's the same confusion I have, cheaper to wait for IPO than buy at present price.
I guess we will know when market opens I think it will open in the 5s I could be wrong. Gl.
I'm looking solely at the reverse split.
No high end of 24 puts it at market cap of 739 million as per reuters this morning.
Maybe I'm missing something, LOL.
not very hard. Actually, I believe not good news for us short term if they are doing 1:8.25, high end of $24 means break even at $2.90.
Top of the range for ipo MC is 739 million current MC 400+ million we should see a tremendous upside? What do you think?
Am I missing something?
William Lyon Homes Announces Launch of Initial Public Offering
Business WirePress Release: William Lyon Homes – 1 hour 2 minutes ago
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
William Lyon Homes (the “Company”) today announced the launch of its initial public offering in the United States of 8,700,000 shares of its Class A Common Stock, 6,525,000 shares of which will be sold by the Company and 2,175,000 shares of which will be sold by a selling stockholder. The initial public offering price is currently expected to be between $22.00 and $24.00 per share of Class A Common Stock. The proposed offering gives effect to a 1-for-8.25 reverse stock split of the Company’s Class A Common Stock to be effective at pricing of the offering. The Company has applied for listing of its shares of Class A Common Stock on the New York Stock Exchange under the ticker symbol “WLH”. The underwriters will have the option to purchase up to an additional 1,305,000 shares of Class A Common Stock, including 652,500 additional shares from the Company and 652,500 additional shares from the selling stockholder, to cover over-allotments, if any.
The Company expects to receive net proceeds of approximately $137.7 million from the offering and intends to use such proceeds for growth capital, including the acquisition of land currently under contract or non-binding letters of intent, and for general corporate purposes.
Credit Suisse, Citigroup and J.P. Morgan will act as joint book-running managers for the offering, and Zelman Partners LLC, Houlihan Lokey and Comerica Securities will act as co-managers for the offering. A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such shares of Class A Common Stock in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from the offices of Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, or by telephone at (800) 221-1037 or by email at newyork.prospectus@credit-suisse.com. Copies may also be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (800) 831-9146 or by email at BATProspectusdept@citi.com. Copies may also be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone 1-866-803-9204.
About William Lyon Homes
Headquartered in Newport Beach, California, the Company is primarily engaged in the design, construction, marketing and sale of single-family detached and attached homes in California, Arizona, Nevada and Colorado. Its core markets include Orange County, Los Angeles, San Diego, the San Francisco Bay Area, Phoenix, Las Vegas and Denver. The Company has a distinguished legacy of more than 55 years of homebuilding operations, over which time it has sold in excess of 75,000 homes. The Company markets and sells it homes under the William Lyon Homes brand in all of its markets except for in Colorado, where the Company operates under the Village Homes brand.
Forward-Looking Statements
Certain statements contained in this release that are not historical information contain forward-looking statements. The forward-looking statements involve risks and uncertainties and actual results may differ materially from those projected or implied. Further, certain forward-looking statements are based on assumptions of future events which may not prove to be accurate. Factors that may impact such forward-looking statements include, among others, worsening in general economic conditions either nationally or in regions in which the Company operates, worsening in markets for residential housing, the Company’s ability to acquire land at reasonable prices, changes in home mortgage interest rates or limitations on the availability of mortgage financing, difficulty in obtaining sufficient capital for completion of projects, increases in the Company’s cancellation rate, a decrease in the value of the Company’s land inventory, competition in the homebuilding industry, any construction defect, soil subsidence and building-related and other claims asserted against the Company, inability to obtain suitable bonding for the development of the Company’s communities, changes in prices of homebuilding materials, labor shortages, adverse weather conditions, the occurrence of events such as landslides, soil subsidence and earthquakes that are uninsurable, not economically insurable or not subject to effective indemnification agreements, changes in governmental laws and regulations, inability to comply with financial and other covenants under the Company’s debt instruments, whether the Company is able to refinance the outstanding balances of its debt obligations at their maturity, the Company’s ability to use its deferred tax assets and the timing of receipt of regulatory approvals and the opening of projects. These factors are discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections and elsewhere in the Company’s registration statement.
You should keep in mind that any forward-looking statement made by the Company herein, or elsewhere, speaks only as of the date on which made. New risks and uncertainties come up from time to time, and it is impossible for the Company to predict these events or how they may affect it. The Company has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
Contact:
William Lyon Homes
Colin T. Severn, Investor Relations
949-833-3600
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