secwatch.observer — SEC 8-K summary
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Issuer:     United Homes Group, Inc. (UHG)
CIK:        0001830188
Form:       8-K
Filed at:   2023-03-22T23:59:59+00:00
Accession:  0001104659-23-035315
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DHHC signs $80M convertible note and $75M PIPE for Great Southern Homes merger
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- $80M convertible promissory notes at 15% annual interest, convertible at 80% of 30-day VWAP (floor $5, cap $10).
- Additional $75M PIPE for 744,588 Class A shares; closing contingent on business combination closing by April 28, 2023.
- Conversant Opportunity Master Fund gets board designation right while 50% of notes outstanding and certain consent rights.
- Notes mature in 5 years; interest rate rises 1% annually after 4th year; issuer may redeem with premium.
- Proceeds expected to offset redemptions and satisfy minimum cash condition for the business combination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830188/000110465923035315/0001104659-23-035315-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830188/000110465923035315/tm2310212d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-035315

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