Forestar Group Inc. Announces Expiration and Final Results of Tender Offer for Any and All of its 3.850% Senior Notes due 2026

In This Article:

ARLINGTON, Texas, March 12, 2025--(BUSINESS WIRE)--Forestar Group Inc. (NYSE: FOR) announced today the expiration and final results of the previously announced cash tender offer (the "Tender Offer") to purchase any and all of its outstanding 3.850% Senior Notes due 2026 (the "Notes") listed in the following table upon the terms and conditions described in the offer to purchase, dated March 5, 2025 (the "Offer to Purchase"), and the related notice of guaranteed delivery, dated March 5, 2025 (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase, the "Offer Documents").

Title of Security

 

CUSIP Numbers / ISINs

 

Principal Amount

Outstanding

 

Principal Amount

Tendered(2)

 

Percent of Outstanding

Principal Amount Tendered(2)

3.850% Senior Notes due 2026(1)

 

Rule 144A: 346232 AF8 / US346232AF83

Reg. S: U3455L AC8 / USU3455LAC82

 

$400,000,000

 

$329,434,000

 

82.36%

                               

(1)

On or after May 15, 2025, Forestar is entitled to redeem all or a part of the Notes, at a redemption price of 100.000% of the principal amount thereof, plus accrued and unpaid interest, if any, to but excluding the applicable redemption date.

(2)

Not including $667,000 in aggregate principal amount tendered pursuant to the guaranteed delivery procedures, for which delivery of such Notes must be made by 5:00 p.m., New York City time, on March 13, 2025.

 

The Tender Offer expired at 5:00 p.m., New York City time, on March 11, 2025 (the "Expiration Time"). Tendered Notes may not be withdrawn after the Expiration Time. As of the Expiration Time, Forestar had received tenders for an aggregate principal amount of $329,434,000 of the outstanding Notes, or 82.36% of the aggregate principal amount of the Notes outstanding. These amounts exclude $667,000 aggregate principal amount of the Notes that remain subject to the guaranteed delivery procedures described in the Offer to Purchase. Guaranteed deliveries will expire at 5:00 p.m., New York City time, on March 13, 2025.

Holders of the Notes validly tendered, and not validly withdrawn, and accepted for purchase pursuant to the Tender Offer, will receive the purchase price of $999.46 per $1,000 principal amount of the Notes accepted for purchase (the "Purchase Price"), plus accrued and unpaid interest thereon from the last interest payment date up to, but excluding, the settlement date for all Notes tendered prior to the Expiration Time or pursuant to a Notice of Guaranteed Delivery, which date is currently expected to be March 14, 2025.


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