Standard Pacific Corp. SPF today announced the proposed public offering by selling stockholder MP
CA Homes LLC, an affiliate of MatlinPatterson Global Advisers LLC, of
20,000,000 of its 237,212,786 shares (on an as converted basis) of the
Company's common stock. The selling stockholder also expects to grant the
underwriters of the proposed common stock offering an option to purchase up
to an additional 3,000,000 shares of the Company's common stock solely to
cover over-allotments. Credit Suisse Securities (USA) LLC will act as
book-running manager for the proposed common stock offering. The Company
will not sell any shares in the proposed common stock offering, and will not
receive any of the proceeds from the sale by MP CA Homes LLC.
The Company has an effective registration statement (including a prospectus)
on file with the Securities and Exchange Commission (the "SEC") and will
file a prospectus supplement with the SEC for the offering to which this
communication relates. Before you invest, you should read the prospectus in
that registration statement and other documents the Company has filed and
will file with the SEC for more complete information about Standard Pacific
and the proposed offering by MP CA Homes LLC. You may obtain these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, copies may be obtained from Credit Suisse Securities (USA)
LLC, Attention: Prospectus Department, One Madison Avenue, New York, New
York 10010, e-mail: newyork.prospectus@credit-suisse.com or toll free at
(800) 221-1037.
This news release shall not constitute an offer to sell or the solicitation
of an offer to buy securities, nor shall there be any sale of such
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About Standard Pacific Corp.
Standard Pacific Homes SPF has been building homes and neighborhoods
since its founding in Southern California in 1965. We currently offer new
homes in major metropolitan areas in Arizona, California, Colorado, Florida,
North Carolina, South Carolina, and Texas.
This news release contains forward-looking statements. These statements
include but are not limited to statements regarding the proposed offering.
Forward-looking statements are based on our current expectations or beliefs
regarding future events or circumstances, and you should not place undue
reliance on these statements. Such statements involve known and unknown
risks, uncertainties, assumptions and other factors many of which are out of
the Company's control and difficult to forecast that may cause actual
results to differ materially from those that may be described or implied.
The Company cannot be certain that the offering will be completed on the
terms discussed above, or at all. For a discussion of certain other risks,
uncertainties and other factors affecting the statements contained in this
news release, see the Company's Annual Report on Form 10-K for the year
ended December 31, 2012 and its subsequent Quarterly Report on Form 10-Q.
Except as required by law, the Company assumes no, and hereby expressly
disclaims any, obligation to update any of the foregoing or any other
forward-looking statements. The Company nonetheless reserves the right to
make such updates from time to time by press release, periodic report or
other method of public disclosure without the need for specific reference to
this news release. No such update shall be deemed to indicate that other
statements not addressed by such update remain correct or create an
obligationto provide any other updates.
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