Taylor Morrison Home Corporation, Scottsdale (NYSE:TMHC) Monday announced the commencement of an underwritten public offering of 10,000,000 shares of its Class A common stock.
The company intends to use all of the net proceeds that it receives from the offering to purchase partnership units in its direct subsidiary – TMM Holdings II Limited Partnership – along with shares of Taylor Morrison’s Class B common stock, held by its current equity sponsors that are affiliates of and funds managed by TPG Global, LLC and Oaktree Capital Management, L.P. The aggregate number of partnership units and corresponding shares of Class B common stock purchased by Taylor Morrison will be equal to the number of shares of Class A common stock sold in the offering.
