Business
Great Southern Homes, Inc., a Leading Private Homebuilder in the Southeast, to Become a Public Company Through a Business Combination with DiamondHead Holdings Corp. Under the Name United Homes Group, Inc. (UHG)
Business combination creates a high growth, land-light publicly traded homebuilder GSH has a 20+ year operating history and the combined company will be
About this update from United Homes Group, Inc
[{"type":"text","content":"\n\nBusiness combination creates a high growth, land-light publicly traded homebuilder\n\n\n\nGSH has a 20+ year operating history and the combined company will be positioned to benefit from the favorable in-migration and demographic trends in the southeast United States\n\n\n\nGSH shareholders will convert 100% of their shares into shares of the combined company alongside $25 million of committed capital from the DHHC sponsor group, including David Hamamoto and Antara Capital\n\n\n COLUMBIA, S.C. & NEW YORK--(BUSINESS WIRE)--\nGreat Southern Homes, Inc. (“GSH” or the “Company”) announced today that it has entered into a definitive merger agreement with DiamondHead Holdings Corp. (NASDAQ: DHHC) (“DiamondHead” or “DHHC”), a special purpose acquisition company. Upon closing of the transaction, GSH will become a publicly traded company, and DiamondHead Holdings Corp. will be renamed United Homes Group, Inc. DiamondHead is expected to remain listed on the Nasdaq Capital Market and is expected to trade under the new ticker symbol “UHG.”\n\nGSH is currently one of the largest homebuilders in the Southeast. The Company builds homes in South Carolina and Georgia, focusing on the entry level and first time move up home buyer segments. GSH plans to employ a capital efficient “land-light” operating model that is expected to generate higher returns with lower cyclical risk compared to a traditional homebuilding operating model. Through organic growth, GSH has become the 25th ranked starter-home builder and the 41st ranked single-family detached home builder in the United States, respectively, based on 2021 home closings according to Pro Builder’s 2022 Housing Giants Report.\n\nDiamondHead is a special purpose acquisition company led by Co-CEO and Chairman David Hamamoto, who has over 40 years of experience in real estate investing, as well as operating both private and publicly held real estate businesses. David Hamamoto was the founder and Chairman of the previously publicly-traded NorthStar real estate related companies: NorthStar Realty Finance Corp., NorthStar Asset Management Group, Inc. and NorthStar Realty Europe Corp. In addition, David Hamamoto was a former partner at Goldman, Sachs & Co. and the co-founder of its Real Estate Principal Investment Group and Whitehall funds.\n\nDiamondHead is co-sponsored by Antara Capital, which is ...