A residential homebuilder company announced Monday that it would become a public company, following a transaction valued at $510 million that will merge LF Capital Acquisition Corp. and Newport Beach-based Landsea Homes.
The merged companies will be named Landsea Homes Corp. and it will trade on Nasdaq under the ticker symbol LSEA. The company’s warrants and units will be listed as LSEAW and LSEAU.
Landsea Homes was founded in 2013 by Landsea Green Properties Co., Ltd., a publicly traded company listed on the Hong Kong Stock Exchange to build homes for the U.S. domestic market. Landsea Green Properties Co. is expected to own about 67.4% of Landsea Homes at the closing of the merger. Landsea Homes develops predominantly in California and Arizona.