Taylor Morrison Completes Holding Company Reorganization
In the reorganization, Old Taylor Morrison's stockholders automatically became stockholders of New Taylor Morrison, on a one-for-one basis, with the same number of shares and same ownership percentage of the same corresponding class of Old Taylor Morrison common stock that they held immediately prior to the holding company reorganization. The ticker symbol of New Taylor Morrison Class A common stock remains "TMHC" and the CUSIP number is the same as the CUSIP number for the Old Taylor Morrison Class A common stock.
In addition, as previously announced, all of the outstanding partnership units of TMM II and corresponding paired shares of Class B common stock of New Taylor Morrison (held by persons other than New Taylor Morrison and its subsidiaries) were exchanged, on a one-for-one basis, for shares of Class A common stock of New Taylor Morrison following the holding company reorganization. As a result, New Taylor Morrison eliminated the minority interest in its principal subsidiary and retired all of its outstanding shares of Class B common stock so there is only one remaining class of common stock outstanding after the transactions.
The holding company reorganization is intended to be a tax-free transaction for U.S. federal income tax purposes for Taylor Morrison stockholders.
About Taylor Morrison
This press release includes "forward-looking statements." These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other expectations regarding future events. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "may," "can," "could," "might," "will" and similar expressions identify forward-looking statements, including statements related to the transactions and the lack of any material operational or financial impact related thereto.
Such risks, uncertainties and other factors include, among other things: the impact of future regulatory requirements related to the transactions, stock market and stock analyst reaction to the transactions, and the impact of the transactions on our credit rating, if any. In addition, other such risks and uncertainties may be found in our most recent annual report on Form 10-K filed with the
CONTACT: Investor Relations
View original content to download multimedia:http://www.prnewswire.com/news-releases/taylor-morrison-completes-holding-company-reorganization-300738623.html
SOURCE Taylor Morrison