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MIAMI, Nov. 26, 2025 /PRNewswire/ — Lennar Company (NYSE: LEN and LEN.B) (“Lennar”) introduced these days the general result of its in the past introduced do business in to switch as much as 33,298,764 stocks of Millrose Homes, Inc. (NYSE: MRP) (“Millrose”) Elegance A secure it owns (roughly 20% of the overall exceptional Millrose secure) for exceptional stocks of Lennar Elegance A familiar secure (the “Exchange Offer”). The Change Do business in expired at 12:00 nighttime, Unused York Town age, on November 21, 2025 (the “Expiration Date”).
Pursuant to the phrases of the Change Do business in, Lennar has approved 8,049,594 stocks of Lennar Elegance A familiar secure in alternate for 33,298,754 stocks of Millrose Elegance A familiar secure.
For the reason that Change Do business in was once oversubscribed, Lennar approved just a portion of the stocks of Lennar Elegance A familiar secure that had been validly tendered and now not validly withdrawn, on a professional rata foundation in percentage to the selection of stocks tendered. Stockholders who owned fewer than 100 stocks of Lennar Elegance A familiar secure, or an “odd-lot,” who’ve validly tendered all in their stocks, weren’t topic to proration, according to the phrases of the Change Do business in. All stocks validly tendered via eligible “odd-lot” shareholders had been approved. The general proration issue of 8.604228% was once implemented to all alternative validly tendered and now not validly withdrawn stocks of Lennar Elegance A familiar secure to decide the selection of such stocks that had been approved and exchanged for Millrose Elegance A familiar secure.
In keeping with the general rely via the alternate agent, Computershare Accept as true with Corporate, N.A. (the “Exchange Agent”), the general result of the Change Do business in are as follows:
- Overall selection of stocks of Lennar Elegance A familiar secure validly tendered and now not validly withdrawn: 85,296,924
- Stocks tendered that had been topic to proration: 84,518,299
- Proration issue: 8.604228%
- “Odd-lot” stocks tendered that weren’t topic to proration: 778,625
- Overall selection of stocks of Lennar Elegance A familiar secure approved: 8,049,594
Stocks of Lennar Elegance A familiar secure tendered however now not approved for alternate will likely be promptly returned to the tendering stockholders. As well as, the Change Agent will promptly credit score stocks of Millrose Elegance A familiar in book-entry method to accounts maintained via the Millrose switch agent for tendering stockholders whose stocks of Lennar Elegance A familiar secure had been approved within the Change Do business in. Exams rather of fractional stocks of Millrose Elegance A familiar secure will likely be delivered later the Change Agent has aggregated all fractional stocks and bought them within the observable marketplace.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC served as broker managers for the Change Do business in. Vestra Advisors, LLC acted as unique monetary marketing consultant to Millrose.
About Lennar
Lennar Company, based in 1954, is without doubt one of the crowd’s important developers of trait properties for all generations. Lennar builds inexpensive, move-up and energetic grownup properties basically below the Lennar emblem identify. Lennar’s Monetary Products and services section supplies loan financing, name and ultimate services and products basically for patrons of Lennar’s properties and, thru LMF Business, originates loan loans attach basically via industrial actual property homes right through the USA. Lennar’s Multifamily section is a national developer of high quality multifamily condominium homes. LENX drives Lennar’s era, innovation and strategic investments.
Ahead-Taking a look Statements
This conversation comprises sure statements about Lennar and Millrose which can be forward-looking statements. Ahead-looking statements are in keeping with wave expectancies and suppositions referring to Lennar’s and Millrose’s respective companies, the economic system and alternative generation situations. As well as, the forward-looking statements contained on this conversation might come with statements in regards to the anticipated results on Lennar and Millrose of the Change Do business in, the expected timing and advantages of the Change Do business in, Lennar’s and Millrose’s expected monetary effects, and alternative statements that aren’t historic information.
As a result of forward-looking statements relate to the generation, via their nature, they’re topic to inherent uncertainties, dangers and adjustments in cases which can be tricky to are expecting and are vivid extra absolutely in Lennar’s and Millrose’s respective periodic studies filed from age to age with the SEC, the Registration Observation in terms of the Change Do business in and the Prospectus inauguration part of it, the Time table TO and alternative Change Do business in paperwork filed via Lennar or Millrose, as acceptable, with the SEC. Such uncertainties, dangers and adjustments in cases may reason unedited effects to vary materially from the ones expressed or implied in such forward-looking statements. Ahead-looking statements integrated herein are made as of the generation hereof, and neither Lennar nor Millrose undertakes any legal responsibility to replace publicly such statements to mirror next occasions or cases, with the exception of to the level required via acceptable securities regulations. Traders must now not put undue reliance on forward-looking statements.
Spare Data and The place to In finding It
This conversation is for informational functions handiest and isn’t an do business in to promote or alternate, a solicitation of an do business in to shop for or alternate any securities or a advice as as to if traders must take part within the Change Do business in. Millrose has filed with the SEC a Registration Observation on Mode S-4 that comes with the Prospectus. The Change Do business in was once made totally via the Prospectus. The Prospectus comprises impressive details about the Change Do business in, Lennar, Millrose and similar issues, and Lennar has allotted the Prospectus to holders of Lennar Elegance A familiar secure. Lennar has filed with the SEC a Time table TO, as amended from age to age, which comprises impressive details about the Change Do business in.
Holders of Lennar Elegance A familiar secure might download copies of the Prospectus, the Registration Observation, the Time table TO and alternative similar paperwork, and any alternative data that Lennar and Millrose report electronically with the SEC unfastened of fee on the SEC’s web page at http://www.sec.gov. Holders of Lennar Elegance A familiar secure will even be capable to download a novel of the Prospectus via clicking at the suitable hyperlink on www.envisionreports.com/lennarexchange.
Lennar has retained Georgeson LLC as the ideas agent for the Change Do business in. To procure copies of the Prospectus and similar paperwork, or for questions in regards to the phrases of the Change Do business in or how to take part, you could touch the ideas agent at +1 (888) 624-7035 (toll-free for stockholders, banks and agents) or +1 (218) 209-2908 (all others outdoor the USA and Canada).
Touch:
Ian Frazer
Investor Family members
Lennar Company
(305) 485-4129
SOURCE Lennar Company
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