Landsea Homes, the Newport Beach-based homebuilding subsidiary of China-based real estate company Landsea Group, is being acquired by a New York blank check company and will go public via a reverse merger deal valued at $510 million.
LF Capital Acquisition Corp. (NASDAQ: LFAC), founded in 2017, is the buyer.
The new company will be named Landsea Homes Corp. and its shares will trade on the Nasdaq under the ticker ‘LSEA’ once the deal closes in the fourth quarter of 2020, officials said.
The reverse merger is subject to regulatory and stockholder approvals prior to closing.
For more details, see the Sept. 7 print edition of the Business Journal.
