LGI Homes, Inc. Announces $50 Million Stock Repurchase Program
November 09 2018 - 8:00AM
LGI Homes, Inc. (Nasdaq:LGIH) today announced that its Board of
Directors authorized a stock repurchase program, pursuant to which
the Company may purchase up to $50 million of shares of its
common stock through open market transactions, privately negotiated
transactions or otherwise in accordance with applicable laws.
The timing, amount and other terms and conditions of any
repurchases will be determined by the Company's management at its
discretion based on a variety of factors, including the market
price of the Company's common stock, corporate considerations,
general market and economic conditions and legal
requirements. The stock repurchase program may be modified,
discontinued or suspended at any time. The Company intends to
fund the stock repurchase program through cash on hand, future cash
flow from operations and its revolving credit facility.
About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI Homes, Inc. engages
in the design, construction and sale of homes in Texas, Arizona,
Florida, Georgia, New Mexico, Colorado, North Carolina, South
Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama,
California, Oregon and Nevada. The Company has a notable legacy of
more than 15 years of homebuilding operations, over which time it
has closed over 27,000 homes. For more information about the
Company and its new home developments please visit the Company's
website at www.LGIHomes.com.
Forward-Looking Statements
Any statements made in this press release that are not
statements of historical fact, including statements about the
Company’s beliefs and expectations, are forward-looking statements
within the meaning of the federal securities laws, and should be
evaluated as such. Forward-looking statements include statements
relating to, among other things, repurchases under the stock
repurchase program, the source of funds therefor or other aspects
of the stock repurchase program. Forward-looking statements can
generally be identified by the use of forward-looking terminology,
including the terms “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “forecast,” “goal,” “intend,” “may,”
“objective,” “plan,” “potential,” “predict,” “projection,”
“should,” “will” or, in each case, their negative, or other
variations or comparable terminology. For more information
concerning factors that could cause actual results to differ
materially from those contained in the forward-looking statements
please refer to the “Risk Factors” section in the Company’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2017,
including the “Cautionary Statement about Forward-Looking
Statements” subsection within the “Risk Factors” section, and
subsequent filings by the Company with the Securities and Exchange
Commission.
The Company bases these forward-looking statements on its
current expectations, plans and assumptions that it has made in
light of its experience in the industry, as well as its perceptions
of historical trends, current conditions, expected future
developments and other factors it believes are appropriate under
the circumstances and at such time. As you read and consider this
press release, you should understand that these statements are not
guarantees of future performance or results. The forward-looking
statements are subject to and involve risks, uncertainties and
assumptions and you should not place undue reliance on these
forward-looking statements. Although the Company believes that
these forward-looking statements are based on reasonable
assumptions at the time they are made, you should be aware that
many factors could cause actual results to differ materially from
those expressed in the forward-looking statements. The Company
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. If the Company does update one or more
forward-looking statements, there should be no inference that it
will make additional updates with respect to those or other
forward-looking statements.
CONTACT: Investor RelationsCaitlin Stiles, (281)
210-2619InvestorRelations@LGIHomes.com
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