Dream Finders prices $300M 8.25% senior notes due 2028 for debt repayment

Dream Finders Homes, Inc.

$300M aggregate principal of 8.25% senior unsecured notes due 2028 priced.
Net proceeds ~$295M to repay borrowings under revolving credit agreement and for general corporate purposes.
Offering expected to close August 22, 2023; notes sold via Rule 144A/Reg S private placement.
Notes will be guaranteed on a senior unsecured basis by each subsidiary guarantor under the credit agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Dream Finders Homes, Inc. entered into Purchase Agreement with BofA Securities, Inc., as representative of the several initial purchasers valued at $300,000,000 (effective 2023-08-08).

Action: entry
Agreement: notes offering
Counterparty: BofA Securities, Inc., as representative of the several initial purchasers
Value: $300,000,000
Effective: 2023-08-08

Exact text from the filing

On August 8, 2023, Dream Finders Homes, Inc. (the “Company”) and certain of its subsidiaries (the “Guarantors”) entered into a purchase agreement (the “Purchase Agreement”) with BofA Securities, Inc. (“BofA”), as representative of the several initial purchasers named therein (collectively, the “Initial Purchasers”), pursuant to which the Company agreed to issue and sell $300,000,000 in aggregate principal amount of the Company’s 8.25% Senior Notes due 2028 (the “Notes”).

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Dream Finders Homes, Inc. filing history →

Source: SEC EDGAR

accession 0001825088-23-000061

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