The New Home Company is on the IPO road again

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The New Home Company renewed its bid to go public by filing an S-1 registration statement with the Securities and Exchange Commission. A company manager confirmed that the builder is in the SEC’s mandated quiet period.

December 09, 2013

The New Home Company renewed its bid to go public by filing an S-1 registration statement with the Securities and Exchange Commission. A company manager confirmed that the builder is in the SEC’s mandated quiet period.

The Aliso Viejo, Calif., initially filed last June to raise $172.5 million through an initial public offering of common stock, but postponed that effort after prices for other home builders’ stocks declined. By mid-August the share price for SPDR S&P Homebuilders ETF had decreased 7.2 percent from its high in mid-May.

The builder disclosed in last summer’s filing that it lost $876,875 on sales of $24.2 million during 2012 compared with a $1.85 million net loss on sales of $25.6 million during 2011. Net proceeds from the postponed offering were to be used for the acquisition of land, the development of lots, home construction, and other related purposes.

The New Home Company was founded during 2009 in the wake of the housing crash by founders Larry Webb, chief executive officer and a John Laign Homes veteran; Wayne Stelmar, chief financial officer; Joseph Davis, chief investment officer, and Tom Redwitz, chief operating officer. The builder is active in select growth markets in California, including Southern California, the San Francisco Bay area, and Sacramento.

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