04:52 PM EST, 03/08/2024 (MT Newswires) -- Landsea Homes ( LSEA ) said late Friday that Landsea Holdings closed its offering of about 2.43 million shares, including over-allotment option, at $11.60 per share.

Following the close of the offering, Landsea Holdings no longer owns a majority of its shares and Landsea Homes ( LSEA ) no longer qualifies as a "controlled company" according to Nasdaq listing standards.

The company said it is currently in compliance with and intends to comply with the transition period requirements applicable following the loss of such status under the Nasdaq listing standards.

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