Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 30 n°83

Boston Omaha Corporation Announces $10 Million Investment in Dream Finders Holdings LLC

Posted by fidest press agency su domenica, 7 gennaio 2018

bostonBoston Omaha Corporation (NASDAQ: BOMN) (“Boston Omaha” or the “Company”) announces its recent $10 million equity investment in Dream Finders Holdings LLC (“DF Holdings”), the parent company of Dream Finders Homes LLC, a national homebuilder with operations in Florida, Colorado, Georgia, Maryland, South Carolina, Texas and northern Virginia. In addition to its homebuilding operations, DF Holdings’ subsidiaries provide mortgage loan origination and title insurance services to homebuyers.
“We are excited to invest in Patrick Zalupski and the team at Dream Finders Homes after watching them grow over the last several years while earning attractive returns on incremental capital and maintaining a disciplined land option model approach to their business. We look forward to what they can accomplish over the coming decade in what we believe could be a more conducive environment for single family construction,” said Boston Omaha’s Co-Chief Executive Officer Adam Peterson. The investment consists of the issuance of new non-voting common units of DF Holdings, constituting approximately 5% of DF Holdings’ outstanding equity interests. The terms of the investment imply a $200 million purchase price valuation and provide for the potential issuance to Boston Omaha of additional non-voting common units if DF Holdings does not achieve consolidated net income in excess of $60 million for the 2018 and 2019 fiscal years combined. The issuance of additional non-voting common units would be based on the resetting of the purchase price valuation to $140 million. In addition, the agreement provides that DF Holdings may not take certain actions without the consent of Boston Omaha. Finally, all non-voting common units will convert to voting common stock in the event that DF Holdings conducts an initial public offering.


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