SPACInsider Logo
Diamond Head Holdings Corp. (DHHC) Closes Great Southern Homes Deal
by Marlena Haddad on 2023-03-30 at 5:02pm

DiamondHead Holding Corps. (NASDAQ:DHHC) announced that it has closed its combination with Great Southern Homes and the combined company will be renamed United Homes Group.

The deal was approved by shareholders during a meeting last Thursday, and only 109,426 shares were redeemed in connection with the vote, but DiamondHead saw about 87% redemptions in total across all previous votes, leaving it with about $43.9 million in its trust.

Although shareholders previously approved the business combination, the parties were still working to raise funds to meet the $125 million minimum cash condition. Earlier this week, DiamondHead entered into subscription agreements with lock-up investors and PIPE investors.

United Homes Group will now begin trading on the Nasdaq under the ticker symbol “UHG” on March 31. Great Southern Homes’ CEO and Founder, Michael Nieri, and the current management team of Great Southern Homes will continue on to lead United Homes Group.

DiamondHead initially announced the $572 million combination with Great Southern Homes in September 2022. Columbia, South Carolina-based Great Southern Homes is one of the largest homebuilders in the Southeast and focuses on the entry level home buyer segments.


ADVISORS

  • BTIG, LLC is acting as exclusive sell-side advisor to GSH.
  • Nelson Mullins Riley & Scarborough LLP is acting as counsel to GSH.
  • Zelman Partners is acting as exclusive M&A advisor to DiamondHead.
  • Sullivan & Cromwell LLP is acting as counsel to DHHC.

 

Recent Posts
by Marlena Haddad on 2023-06-07 at 5:54pm

Latest Non-Redemption Agreements:  EVe Mobility and Swiftmerge EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement On June 7,  EVe Mobility Acquisition Corp. (NYSE:EVE) and the sponsor entered into further non-redemption agreements with additional unaffiliated third party investors pursuant to which the investors have, in connection with the Extension Meeting, agreed not to redeem their Class A Ordinary...

by Marlena Haddad on 2023-06-07 at 5:52pm

Latest SPAC Liquidations: Ahren Acquisition Corp. Ahren Acquisition Corp. (AHRN) to Liquidate on June 19 Ahren Acquisition Corp. (Nasdaq: AHRN) today announced its board of directors has determined to redeem all of its outstanding Class A ordinary shares, effective as of June 19. As of the open of business on June 20, the Class A Shares...

by Marlena Haddad on 2023-06-07 at 5:49pm

ROC Energy Acquisition Corp. (NASDAQ:ROC) announced in an 8-K today that its shareholders have approved its combination with oilfield services company Drilling Tools International (“DTI”) during a special meeting held on June 1. At the meeting, holders of 23,008,929 shares of common stock were present in person or by proxy, representing approximately 85.69% of the voting...

by Marlena Haddad on 2023-06-07 at 11:34am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: SMX to create new subsidiary, trueSilver, and enters into exclusive agreement with Sunshine Minting  SMX Extending Metals Business with trueSilver Aiming Both for Fashion Luxury and Bullion Products SMX (NASDAQ:SMX) is pleased to announce...

by Nicholas Alan Clayton on 2023-06-07 at 7:33am

Rice II (NYSE: RONI) announced in an 8-K today that its shareholders have approved its combination with energy technology company NET Power with relatively low redemptions. In the end, 21,195,224 shares were redeemed in connection vote, removing 61% of Rice II’s trust. This is the second best result among the 32 deals that have come...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved