DiamondHead Holdings Corp. has completed its business combination with Great Southern Homes, resulting in the renaming of the company to United Homes Group, Inc. Effective March 31, 2023, its stock will trade under the ticker symbol UHG on Nasdaq. Great Southern Homes, a major homebuilder in the Southeast, emphasizes affordable entry-level housing and plans to use a capital-efficient land-light model. The management team will remain in place, and the combination aims to enhance growth opportunities in rapidly expanding markets. Advisors for the deal included BTIG and Zelman Partners.
DiamondHead Holdings Corp. (NASDAQ: DHHC) filed a Registration Statement on Form S-4 with the SEC on October 11, 2022, in connection with its planned business combination with Great Southern Homes, Inc. (GSH). The document includes a preliminary proxy statement/prospectus, outlining essential information regarding DHHC, GSH, and the upcoming merger. GSH is a prominent homebuilder in the Southeast, having closed over 10,000 homes in 20 years. The Registration Statement is subject to change and has not yet become effective, with further documentation to follow upon approval.
DiamondHead Holdings Corp. (NASDAQ: DHHC) and Great Southern Homes, Inc. will hold an investor call on October 3, 2022, at 1:00 PM ET to discuss their business combination. This event will include presentations from key members of both companies, followed by a Q&A session. The anticipated merger will see GSH become publicly traded under the new name United Homes Group, Inc. and the ticker symbol 'UHG.' GSH is positioned as a top homebuilder in the Southeast, focusing on affordable housing markets.
Great Southern Homes (GSH) has entered a merger agreement with DiamondHead Holdings Corp. (DHHC), transforming GSH into a publicly traded homebuilder under the new name United Homes Group, Inc. The deal, valued at approximately $572 million, will provide GSH with $320 million in cash proceeds for future expansion. GSH is positioned to capitalize on favorable in-migration trends in the Southeast U.S., focusing on affordable entry-level homes. Existing shareholders of GSH will retain about 51% of the combined company’s shares.
DiamondHead Holdings Corp. (Nasdaq: DHHC) announced it received a notice from Nasdaq regarding non-compliance due to the late filing of its Quarterly Report on Form 10-Q for the period ending March 31, 2021. This non-compliance does not have an immediate impact on its listing, and trading will continue as the Company strives to meet other requirements. The delay was attributed to the need to review accounting practices related to warrants, which were filed on June 3, 2021, enabling the Company to regain compliance.
DiamondHead Holdings Corp. (Nasdaq: DHHCU) announced that holders of its initial public offering units, totaling 34,500,000, can begin to separate and trade shares of Class A common stock and warrants starting March 18, 2021. The units will continue to trade under the symbol 'DHHCU', while the Class A shares and warrants will trade as 'DHHC' and 'DHHCW', respectively. Holders must contact the transfer agent for separation. This press release does not constitute an offer to sell or buy securities, and forward-looking statements are subject to various risks outlined in the company's SEC filings.