Tender Offer - Forestar Group Inc.
Form Type: 10-Q
Filing Date: 2025-04-22
Corporate Action: Tender-offer
Type: New
Accession Number: 000140658725000064
Filing Summary: Forestar Group Inc. filed a 10-Q for the quarterly period ended March 31, 2025. The report outlines financial data, including total assets of $3,042.7 million and total liabilities of $1,396.8 million. Cash and cash equivalents were reported at $174.3 million. The company generated revenues of $351.0 million for the quarter, with net income of $31.6 million. The filing mentions a recent issuance of $500 million in senior notes with a 6.5% interest rate due March 15, 2033. Proceeds from this issuance were primarily utilized for a tender offer to repurchase $329.4 million of outstanding 3.85% senior notes due 2026, resulting in a $1.1 million loss on extinguishment of debt. D.R. Horton, Inc. remains a majority shareholder with approximately 62% ownership post-merger. The report includes significant notes regarding real estate activities, capitalized interest, and the exploration of new accounting standards impacting disclosures starting in 2025.
Additional details:
Financial Information: {"total_assets":"3042.7","total_liabilities":"1396.8","cash_and_cash_equivalents":"174.3","revenues":"351.0","net_income":"31.6"}
Tender Offer Details: {"senior_notes_issued":"500 million","interest_rate":"6.5%","maturity_date":"2033-03-15","amount_tendered":"329.4 million","repurchase_price":"333.4 million","loss_on_extinguishment":"1.1 million"}
Ownership: {"majority_shareholder":"D.R. Horton, Inc.","ownership_percentage":"62%"}
Form Type: 8-K
Filing Date: 2025-03-14
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525054826
Filing Summary: On March 14, 2025, Forestar Group Inc. completed an offering of $500 million in aggregate principal amount of its 6.500% Senior Notes due 2033 in a private placement. The Notes are senior unsecured obligations and rank equally with other existing unsecured indebtedness. Interest will be paid semi-annually starting September 15, 2025. The company can redeem the Notes under certain conditions. Simultaneously, the company announced that a cash tender offer for its outstanding 3.850% Senior Notes due 2026 resulted in $329,434,000 or 82.36% of the 2026 Notes being validly tendered. The company accepted all validly tendered Notes and made payment on March 14, 2025, utilizing proceeds from the recent offering.
Additional details:
Offering Amount: 500000000
Interest Rate: 6.500%
Notes Maturity Date: 2033-03-15
Tender Offer Amount: 329434000
Tender Offer Percentage: 82.36
Form Type: 8-K
Filing Date: 2025-03-05
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525046312
Filing Summary: On March 5, 2025, Forestar Group Inc. announced the initiation of a cash tender offer to purchase any and all of its outstanding 3.850% senior notes due 2026, amounting to $400 million in total outstanding notes. The tender offer is subject to the terms and conditions outlined in the Company's offer to purchase, which was also dated March 5, 2025. A press release detailing this tender offer was issued and is included as an exhibit to this filing.
Additional details:
Press Release Date: 2025-03-05
Senior Notes Due: 2026
Total Outstanding Notes: 400 million
Tender Offer Terms: subject to the Company's offer to purchase.
Comments
No comments yet. Be the first to comment!