M/I Homes, Inc. : M/I Homes Announces Commencement of Exchange Offer of 8.625% Senior Notes due 2018
06/19/2012| 05:49pm US/Eastern
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COLUMBUS, Ohio (June 19, 2012) - M/I Homes, Inc. (NYSE: MHO)
today announced that it has commenced a registered exchange
offer to exchange any and all of its $30,000,000 aggregate
principal amount of 8.625% Senior Notes due 2018 which were
issued in a private placement on May 8, 2012 (the "Original
Notes") for an equal principal amount of its 8.625% Senior
Notes due 2018 which have been registered under the
Securities Act of 1933, as amended (the "Exchange
Notes").
The exchange offer is being made to satisfy the Company's
obligations under a registration rights agreement entered
into on May 8, 2012 in connection with the issuance of the
Original Notes, and does not represent a new financing
transaction. The Company will not receive any further
proceeds from the exchange offer.
The terms of the Exchange Notes are substantially identical
to the terms of the Original Notes, except that certain
transfer restrictions, registration rights and additional
interest provisions do not apply to the Exchange Notes.
Original Notes that are not exchanged in the exchange offer
will continue to be subject to the existing transfer
restrictions, and the Company will generally have no further
obligation to provide for the registration of those notes
under the Securities Act of 1933, as amended.
The exchange offer will expire at 5:00 p.m., New York City
time, on July 18, 2012, unless extended by the Company.
Tenders of Original Notes must be validly made at or prior to
the expiration time and may be withdrawn at any time prior to
the expiration time.
The terms of the exchange offer are set forth in a prospectus
dated June 19, 2012 and the related letter of transmittal.
Requests for assistance or for copies of documents related to
the exchange offer, including the prospectus and the letter
of transmittal, should be directed to the exchange agent,
U.S. Bank National Association, at (800) 934-6802.
This press release is not an offer to buy or sell or the
solicitation of an offer to buy or sell any of the securities
described herein, nor shall there be any offer, solicitation
or sale of such securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful. A registration
statement on Form S-4 relating to the exchange offer was
declared effective by the Securities and Exchange Commission
on June 19, 2012. The exchange offer is being made only
pursuant to the exchange offer documents that are being
distributed to holders of the Original Notes, including the
prospectus dated June 19, 2012 and the related letter of
transmittal.
M/I Homes, Inc. is one of the nation's leading builders
of single-family homes, having delivered over 81,000 homes.
The Company's homes are marketed and sold under the
trade names M/I Homes, Showcase Homes, Tristone Homes and
Triumph Homes. The Company has homebuilding operations in
Columbus and Cincinnati, Ohio; Chicago, Illinois;
Indianapolis, Indiana; Tampa and Orlando, Florida; Houston
and San Antonio, Texas; Charlotte and Raleigh, North
Carolina; and the Virginia and Maryland suburbs of
Washington, D.C.
Certain statements in this press release are forward-looking
statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Words such as "expects,"
"anticipates," "targets," "goals," "projects," "intends,"
"plans," "believes," "seeks," "estimates," variations of such
words and similar expressions are intended to identify such
forward-looking statements. These statements involve a number
of risks and uncertainties. Any forward-looking statements
that we make herein and in any future reports and statements
are not guarantees of future performance, and actual results
may differ materially from those in such forward- looking
statements as a result of various factors, including, without
limitation, factors relating to the economic environment,
interest rates, availability of resources, competition,
market concentration, land development activities and various
governmental rules and regulations, as more fully discussed
in the "Risk Factors" section of the exchange offer
prospectus and the Company's Annual Report on Form 10-K for
the year ended December
31, 2011, as the same may be updated from time to time in our
subsequent filings with the Securities and
Exchange Commission. There can be no assurance that the
Company will complete the exchange offer on the terms
currently described in the prospectus or at all. All
forward-looking statements made in this press release
are made as of the date hereof, and the risk that actual
results will differ materially from expectations
expressed
herein will increase with the passage of time. We undertake
no duty to publicly update any forward-looking statements,
whether as a result of new information, future events or
otherwise. However, any further disclosures made on related
subjects in our subsequent filings, releases or presentations
should be consulted.
Contact Information
M/I Homes, Inc.
Phillip G. Creek, Executive Vice President, Chief Financial
Officer, (614) 418-8011
Ann Marie W. Hunker, Vice President, Corporate Controller,
(614) 418-8225
Kevin C. Hake, Senior Vice President, Treasurer, (614)
418-8227
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