Five Point launches Hearthstone land banking partnership with Blue Owl; warrants issued at $7.00

Five Point Holdings, LLC

Five Point (FPH) announces new residential land banking partnership via Hearthstone with funds managed by Blue Owl (OWL).
Five Point issued warrants to Blue Owl to purchase up to 1.5M Class A shares at $7.00, vesting on capital contribution thresholds from $500M to $1.7B.
If fully vested and exercised, warrants result in ~1% dilution; no immediate dilution or cash received.
Partnership targets acquisition of residential homesites in U.S. housing markets, leveraging Hearthstone's operating expertise.

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