DHHC Stock Price, News & Analysis

DiamondHead Holdings Corp. was a blank check company incorporated in Delaware and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, or reorganization with one or more businesses. The company was co-led by Chief Executive Officers David Hamamoto and Michael Bayles, with headquarters in New York.

In March 2023, DiamondHead Holdings completed its business combination with Great Southern Homes, Inc., one of the largest private homebuilders in the Southeast United States. The transaction valued the combined company at a pro forma enterprise value of approximately $572 million. As part of the merger, investors committed to an $80 million convertible promissory notes and PIPE investment to support the transaction.

Following the closing of the business combination on March 30, 2023, DiamondHead Holdings Corp. was renamed United Homes Group, Inc., and its common stock began trading on the Nasdaq Stock Market under the new ticker symbol UHG. The combined company, headquartered in Columbia, South Carolina, focuses on building affordable entry-level homes in high-growth markets across the Southeast, including South Carolina, Georgia, and North Carolina. Great Southern Homes' CEO and Founder, Michael Nieri, leads United Homes Group, while DiamondHead's former executives joined the board of directors.