Spin-off - LENNAR CORP /NEW/
Form Type: SCHEDULE 13D
Filing Date: 2025-02-14
Corporate Action: Spin-off
Type: New
Accession Number: 000095017025021181
Filing Summary: On February 7, 2025, Lennar Corporation completed a taxable spin-off of Millrose Properties, Inc. by distributing approximately 80% of the outstanding shares of the Issuer's Class A and Class B Common Stock to holders of Lennar Class A and/or Class B common stock. Following the distribution, Lennar retained approximately 20% of the total outstanding shares of Millrose's Class A and Class B common stock, which it plans to dispose of through a subsequent spin-off or other means. Lennar and Millrose entered into a Distribution Agreement on January 16, 2024, and a Registration Rights Agreement related to the future registration of the Retained Shares. As of February 7, 2025, there are no other plans or proposals regarding the acquired securities.
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Additional details:
Class A Common Stock: 21.5
Retained Shares: 33200053
Form Type: 8-K
Filing Date: 2025-02-07
Corporate Action: Spin-off
Type: New
Accession Number: 000119312525022309
Filing Summary: On February 7, 2025, Lennar Corporation announced the completion of a taxable spin-off of Millrose Properties, Inc. This event involved the distribution of approximately 80% of Millrose's outstanding shares of Class A and Class B common stock to holders of Lennar's Class A and/or Class B common stock as of the close of business on January 21, 2025. The spin-off was completed at 8:30 a.m. Eastern Time on the same day. Millrose is now an independent public company, with its Class A common stock listed under the symbol 'MRP' on the New York Stock Exchange. For every two shares of Lennar's common stock, stockholders received one share of Millrose Class A common stock unless they opted for Class B shares. The distribution resulted in 120,980,401 shares of Class A and 11,819,811 shares of Class B being distributed, with Lennar retaining approximately 20% of Millrose's Class A shares, which they plan to dispose of in potential future transactions.
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Additional details:
Record Date: 2025-01-21
Distribution Time: 8:30 AM
Millrose Class A Symbol: MRP
Total Millrose Class A Outstanding: 154,180,454
Total Millrose Class B Outstanding: 11,819,811
Total Millrose Shares Outstanding: 166,000,265
Millrose Class A Distributed: 120,980,401
Millrose Class B Distributed: 11,819,811
Retained Millrose Class A Shares: 33,200,053
Form Type: 8-K
Filing Date: 2025-01-21
Corporate Action: Spin-off
Type: New
Accession Number: 000119312525009205
Filing Summary: On January 21, 2025, Lennar Corporation announced via a press release the details regarding the record date and the commencement of the election period related to the taxable spin-off of Millrose Properties, Inc. The announcement serves to remind stockholders about these important dates concerning the corporate action.
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Additional details:
Record Date: 2025-01-21
Election Period Start: 2025-01-21
Press Release Exhibit: 99.1
Company Name: Millrose Properties, Inc.
Form Type: 8-K
Filing Date: 2025-01-13
Corporate Action: Spin-off
Type: New
Accession Number: 000119312525004622
Filing Summary: On January 10, 2025, Lennar Corporation announced a stock dividend declared by its Board of Directors as part of a taxable spin-off of Millrose Properties, Inc. This spin-off follows the company's previous announcements and was communicated through a press release, which is included as Exhibit 99.1 in the filing. The stock dividend is a key element of this corporate action, signaling Lennar's strategic move to separate Millrose Properties from the parent company.
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Additional details:
Item Date: 2025-01-10
Press Release: Exhibit 99.1 - Press Release issued by Lennar Corporation on January 10, 2025.
Cover Page Data File: 104 - Cover Page Interactive Data File
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