Form 4: Landsea Homes Corp: Tian Ming Reports Share Transfer by Landsea Holdings
SEC Form 4
Tian Ming, a director and 10% owner of Landsea Homes Corp, reports the transfer of 450,000 shares of common stock by Landsea Holdings to three buyers, along with other transactions affecting beneficial ownership.
Summary
- On June 20, 2024, Landsea Holdings Corporation transferred 450,000 shares of Landsea Homes Corp common stock to three buyers.
- The transfers were made pursuant to stock purchase agreements dated June 17, 2024.
- Landsea Holdings is indirectly 100% owned by Landsea Green Management Limited, of which Tian Ming indirectly beneficially owns approximately 58.53%.
- Tian Ming may be deemed to have beneficial ownership of the shares held by Landsea Holdings.
- After the reported transactions, Tian Ming beneficially owns 12,290,729 shares, including shares held by Landsea Holdings and shares owned by his spouse.
- The price per share for the transfer was $9.53.
Sentiment
Score: 5
Explanation: This is a routine filing related to share transfers and ownership adjustments. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The share transfer may have a minor impact on shareholders due to the change in ownership distribution.
- The transfer of shares to the 'Buyers' could potentially signal new strategic partnerships or investments.
Key Dates
| Date | Description |
|---|---|
| 08/31/2020 | Date of the Agreement and Plan of Merger among the Issuer, Landsea Holdings, LFCA Merger Sub, Inc. and Landsea Homes Incorporation. |
| 01/07/2021 | Date of disposing of 179,038 shares of Common Stock pursuant to the Merger Agreement. |
| 05/31/2022 | Date of disposing of 4,838,710 shares pursuant to the Stock Purchase Agreement. |
| 06/01/2022 | Date of disposing of 4,398,826 shares of Common Stock pursuant to the Share Repurchase Agreement. |
| 01/07/2023 | Date of the automatic surrender and forfeiture of 500,000 shares of Common Stock pursuant to the Sponsor Surrender Agreement. |
| 06/12/2023 | Date of the underwriting agreement between the Issuer, Landsea Holdings, and B. Riley Securities, Inc. |
| 06/15/2023 | Date of the sale of 2,956,522 shares of Common Stock by Landsea Holdings pursuant to the 2023 Underwriting Agreement. |
| 06/21/2023 | Date of the sale of 443,478 shares of Common Stock by Landsea Holdings pursuant to the exercise in full of the underwriters' option under the 2023 Underwriting Agreement. |
| 03/05/2024 | Date of the underwriting agreement between the Issuer, Landsea Holdings, B. Riley Securities, Inc. and BofA Securities, Inc. |
| 03/08/2024 | Date of the sale of 2,800,000 shares of Common Stock by Landsea Holdings pursuant to the 2024 Underwriting Agreement; spouse acquired 30,000 shares. |
| 05/14/2024 | Date of the transfer of 4,100,000 shares of Common Stock pursuant to the Payment Agreement. |
| 06/03/2024 | Date of the transfer of 80,000 shares of Common Stock to Qin Zhou and 50,000 shares of Common Stock to Yitu Wang as bonus. |
| 06/17/2024 | Date of the Stock Purchase Agreements between Landsea Holdings and Chao Liu, Xiao Ning Liu, and Wan Kian Chong. |
| 06/20/2024 | Date of the transfer of 450,000 shares of Common Stock pursuant to the SPAs. |
| 06/24/2024 | Date of the signature of the report by Ming Tian. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.