JACKSONVILLE, Fla., Jan. 20, 2021 (GLOBE NEWSWIRE) -- Dream Finders Homes, Inc. (NASDAQ: DFH) announced today the pricing of its initial public offering of 9,600,000 shares of Class A common stock at the initial public offering price of $13.00 per share. Shares of DFH’s Class A common stock are expected to begin trading on the NASDAQ Global Select Market under the symbol “DFH” on Thursday, January 21, 2021, and the offering is expected to close on January 25, 2021, subject to customary closing conditions. In addition, DFH has granted the underwriters a 30-day option to purchase up to 1,440,000 additional shares of Class A common stock on the same terms to cover over-allotments.

DFH expects to receive gross proceeds from the offering of approximately $124.8 million, before deducting underwriting discounts and estimated offering expenses, and excluding any exercise of the underwriters’ over-allotment option. DFH expects to use the net proceeds from the offering, cash on hand and borrowings under DFH’s syndicated, unsecured revolving credit facility that it intends to enter into in connection with the offering, or shortly thereafter, to repay all borrowings under its existing secured vertical construction lines of credit facilities and, upon such repayment, terminate such facilities.

About DFH

Dream Finders Homes was founded by CEO, Patrick Zalupski, in 2008. DFH is based in Jacksonville, FL, and is one of the nation’s fastest growing homebuilding companies, with industry leading returns on shareholder’s equity. DFH closed over 3,150 homes in 2020, an increase of 54% over the homes closed in 2019. The Company increased new home sales over 95% in 2020 when compared to 2019. DFH builds homes in Florida, Texas, North Carolina, South Carolina, Georgia, Colorado, Virginia and Maryland. DFH achieves its industry leading growth and returns by maintaining an asset light homebuilding model.