United Homes refinances convertible notes with $70M loan and secondary offering of 7.42M shares

United Homes Group, Inc.

Secondary offering of 7,420,057 shares at $5.00 per share by selling stockholders; underwriter option for 1,113,009 additional shares.
Company redeems $70M convertible notes with $70M cash (funded by new loan) and 10,168,850 shares; unsold shares locked up 120 days.
Kennedy Lewis provides $70M subordinated term loan maturing 2030 or earlier; interest at SOFR + 675-775 bps or ABR + 575-675 bps.
Covenants: min tangible net worth $70M, max leverage 2.50x, min DSCR 1.35x (waivable to 1.20x), min liquidity $20M, min cash $10M.
Company receives no proceeds from secondary offering; all proceeds go to selling stockholders.

item 1.01 item 1.02 item 2.03 item 3.02 item 7.01 item 9.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001104659-24-127664
form_type: 8-K
ticker: UHG
cik: 0001830188
company_name: United Homes Group, Inc.
filed_at: 2024-12-11T23:59:59+00:00
discovered_at: 2026-05-14T18:03:09.898353+00:00
generated_at: 2026-05-29T04:47:39.816007+00:00
sec_items: ["1.01", "1.02", "2.03", "3.02", "7.01", "9.01"]
event_type: debt
sentiment: positive
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: high
secwatch_canonical_url: https://secwatch.observer/filing/0001104659-24-127664
json_url: https://secwatch.observer/filing/0001104659-24-127664.json
markdown_url: https://secwatch.observer/filing/0001104659-24-127664.md
text_url: https://secwatch.observer/filing/0001104659-24-127664.txt
edgar_index_url: https://www.sec.gov/Archives/edgar/data/1830188/000110465924127664/0001104659-24-127664-index.htm
edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/1830188/000110465924127664/tm2430715d1_8k.htm
generated_by_model: deepseek-v4-flash:cloud@v2
review_status: machine_generated
human_reviewed: false
corrected: false
correction_note: null
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