UCP, Inc., San Jose (NYSE:UCP) late Tuesday announced that its stockholders have voted to approve the previously announced merger with Century Communities, Inc. (NYSE: “CCS”).
At the special meeting to consider the merger, approximately 14,942,673 million votes were cast in favor of the merger, representing over 94% of the votes cast and over 81% of the outstanding voting power of UCP as of the June 9, 2017 record date. The final vote results will be filed on a Form 8-K with the Securities and Exchange Commission.
“We appreciate the strong support of our stockholders, who recognize the significant value the pending business combination with Century will create for them and our Company,” said Dustin Bogue, president and CEO of UCP, Inc. “The merger will bring together two nationally established, award-winning home builders that will benefit from a leading presence in core growth markets with a high number of strategically located lots.”
Upon completion of the merger, each share of UCP common stock outstanding immediately prior to the closing will be converted into the right to receive $5.32 in cash and 0.2309 of a newly issued share of Century common stock. UCP and Century expect to close the transaction before the opening of the NYSE on Friday, August 4, 2017, subject to the satisfaction of customary closing conditions.
