Lido Merger Sub, Inc. Announces Extension of Expiration Date of Tender Offer and Consent Solicitation for 8.875% Senior Notes due 2029 of Landsea Homes Corporation

Core Points - The Company announced an extension of the Expiration Date for its cash tender offer to purchase Landsea Homes' outstanding 8.875% Senior Notes due 2029 and to solicit consents from holders of the Notes [1][2] Group 1: Tender Offer Details - The Expiration Date has been extended from June 11, 2025, to June 23, 2025, unless further extended or terminated [2] - As of the current date, the Company received tenders and consents from holders amounting to $293,848,000, which is approximately 97.95% of the total outstanding principal amount of the Notes [3] - The consideration payable for the Notes includes $994.38 for each $1,000 in principal amount, with an Early Participation Premium of $50, leading to a total consideration of $1,044.38 for those who tendered by the Early Tender Date [3][4] Group 2: Conditions and Amendments - The consummation of the Tender Offer is subject to certain conditions, including the completion of a Merger and a financing condition [7] - The Company intends to extend the Expiration Date until the closing of the Merger, and it reserves the right to waive any conditions to the Tender Offer [7] - A supplemental indenture was entered into on May 29, 2025, to effect proposed amendments, which will only become operative if a majority of the Notes are accepted for purchase [7][8]