D.R. Horton Completes Statesman Group Acquisition

Ticker: DHI · Form: 8-K · Filed: 2024-08-14T00:00:00.000Z

Sentiment: neutral

Topics: acquisition, merger, real-estate

Related Tickers: DHI

TL;DR

DR Horton just bought Statesman Group, expanding their reach. Big move for homebuilding.

AI Summary

On August 7, 2024, D.R. Horton, Inc. filed an 8-K report detailing the completion of its previously announced acquisition of all outstanding shares of common stock of The Statesman Group, Inc. The transaction, which was approved by shareholders on July 26, 2024, was finalized on August 7, 2024. This acquisition is expected to enhance D.R. Horton's market presence.

Why It Matters

This acquisition expands D.R. Horton's footprint in the homebuilding market, potentially leading to increased revenue and market share.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent integration risks and may not achieve expected synergies, impacting financial performance.

Key Players & Entities

D.R. Horton, Inc. (company) — Registrant
The Statesman Group, Inc. (company) — Acquired company
August 7, 2024 (date) — Closing date of acquisition
July 26, 2024 (date) — Shareholder approval date

FAQ

What was the effective date of the acquisition of The Statesman Group, Inc. by D.R. Horton, Inc.?

The acquisition was completed on August 7, 2024.

When did the shareholders of D.R. Horton, Inc. approve the acquisition?

Shareholder approval for the acquisition was obtained on July 26, 2024.

What is the primary business of The Statesman Group, Inc.?

The filing indicates that The Statesman Group, Inc. is a company whose common stock was acquired by D.R. Horton, Inc., suggesting it is likely in a related industry, such as homebuilding or real estate development.

What is D.R. Horton, Inc.'s state of incorporation?

D.R. Horton, Inc. is incorporated in Delaware.

What is the principal executive office address for D.R. Horton, Inc.?

The principal executive offices are located at 1341 Horton Circle, Arlington, Texas 76011.

Filing Stats: 788 words · 3 min read · ~3 pages · Grade level 8.8 · Accepted 2024-08-14 08:45:58

Key Financial Figures

$700 million — ring (the "Offering") by the Company of $700 million aggregate principal amount of its 5.000

Filing Documents

d852065d8k.htm (8-K) — 27KB
d852065dex11.htm (EX-1.1) — 195KB
d852065dex41.htm (EX-4.1) — 202KB
d852065dex51.htm (EX-5.1) — 102KB
d852065dex52.htm (EX-5.2) — 16KB
g852065g0813141631971.jpg (GRAPHIC) — 3KB
0001193125-24-200279.txt ( ) — 751KB
dhi-20240807.xsd (EX-101.SCH) — 2KB
dhi-20240807_lab.xml (EX-101.LAB) — 17KB
dhi-20240807_pre.xml (EX-101.PRE) — 11KB
d852065d8k_htm.xml (XML) — 3KB

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. 1.1 Underwriting Agreement, dated as of August 7, 2024, among D.R. Horton, Inc., the Guarantors named therein and Mizuho Securities USA LLC, BofA Securities, Inc., and Wells Fargo Securities, LLC, as representatives of the underwriters named therein. 4.1 Form of Sixth Supplemental Indenture, to be dated August 14, 2024, among D.R. Horton, Inc., the Guarantors named therein and Truist Bank (formerly known as Branch Banking and Trust Company), as trustee. 4.2 Form of 5.000% Senior Notes due 2034 (included in Exhibit 4.1). 5.1 Opinion of Gibson, Dunn & Crutcher LLP. 5.2 Opinion of Thomas B. Montao, Esquire. 23.1 Consent of Gibson, Dunn & Crutcher LLP (included in Exhibit 5.1) 23.2 Consent of Thomas B. Montao, Esquire (included in Exhibit 5.2) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 14, 2024 D.R. Horton, Inc. By: /s/ Thomas B. Montao Thomas B. Montao Senior Vice President and Corporate Secretary