IPO - Smith Douglas Homes Corp.

Form Type: 10-K

Filing Date: 2025-03-21

Corporate Action: Ipo

Type: New

Accession Number: 000198251825000007

Filing Summary: Smith Douglas Homes Corp. completed its initial public offering (IPO) on January 16, 2024, offering 8,846,154 shares of Class A common stock at $21.00 per share, raising approximately $185.8 million in gross proceeds. The company restructured its corporate organization, making Smith Douglas Homes Corp. a holding company and the sole managing member of Smith Douglas Holdings LLC. As a result of the IPO, the previously existing ownership interests in Smith Douglas Holdings LLC were converted to 44,871,794 LLC Interests. The proceeds from the IPO were primarily used to purchase new LLC Interests and to reduce existing debt. Additionally, the management structure was amended to provide distinct voting rights to Class A and Class B common stock holders, enhancing control for existing equity owners. The company is now subject to the reporting requirements under the Securities Exchange Act of 1934, and key figures include 8,991,378 shares of Class A common stock and 42,435,897 shares of Class B common stock outstanding as of March 14, 2025.

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