MERITAGE HOMES CORPORATION (NYSE:MTH) Files An 8-K Other EventsItem 8.01 Other Events
Meritage Homes Corporation ("the Company") issued a notice of redemption to the holders of its outstanding 1.875% Convertible Senior Notes due 2032 (the “Convertible Notes”) on August 4, 2017, to which it will redeem the Convertible Notes for cash, at a price of 50%of the principal amount of the Convertible Notes, plus accrued and unpaid interest ("the Redemption"), on September 20, 2017, unless earlier repurchased or converted. As of June30, 2017, there was $74.6million aggregate principal amount of the Convertible Notes outstanding. Prior to the consummation of the Redemption, the holders of the Convertible Notes are entitled to require the Company to repurchase their notes at a price of 50%of the outstanding principal amount of the Convertible Notes, plus accrued and unpaid interest, on September 15, 2017. The conversion rate for the 2032 Notes is 17.1985 shares of the Company’s common stock per $1,000 principal amount of the Convertible Notes, an initial conversion price of $58.14 per share.
About MERITAGE HOMES CORPORATION (NYSE:MTH)
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee. Its homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services. Its homebuilding and marketing activities are conducted under the Meritage Homes brand, other than in Tennessee, where it operates under the Phillips Builders brand, and in the Atlanta and Greenville markets, where it operates under the Legendary Communities brand.
