Through organic growth, GSH has become the 25thranked starter-home builder and the 41stranked single-family detached home builder in the United States, respectively, based on 2021 home closings according toPro Builders 2022 Housing Giants Report. DiamondHead Holdings Corp. (Name of Issuer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securities) 25278L105 (CUSIP Number) David T. Hamamoto. Mr. Hamamoto, along with members of his team and Goldman bankers, made at least two visits to the Lordstown factory in Lordstown, Ohio, to meet with Mr. Burns in June last year, according to regulatory documents. 2023 Renaissance Capital LLC. This cookie is a text file stored on your computer that is used for analytic web usage information. T David Hamamoto, Co-Ceo, Chairman, 2023-01-19; The Company currently has a presence in South Carolina and Georgia and focuses on providing high-quality, affordable homes for the entry-level and first move-up segments. David Hamamoto in 2007. Founder of Diamond Head Partners LLC New York, New York . The most-recent trade in DiamondHead Holdings Corp is the acquisition of 250,000 shares on January 18, 2023, which cost David T Hamamoto around $3 Million. So for a company like Lordstown which had no revenue and no truck for sale to succeed, having a management team that could oversee such a complicated endeavor was all the more important. (800) 464-2924. Founder of Northstar Asset Management Group, Inc., NorthStar Realty Europe Corp., NorthStar Capital Investment Corp. and Diamond Head Partners LLC, David T. Hamamoto is an entrepreneur and businessperson who has been at the helm of 15 different companies and currently occupies the position of Chairman of Northstar Europe SA, Chairman of Ns Real Estate Income Trust Advisor LLC, Chairman & Co-Chief Executive Officer at DiamondHead Holdings Corp., Chairman at Spaxel LLC and Chairman & Chief Executive Officer at Northstar Healthcare Investors, Inc. David T. Hamamoto is also on the board of 6 other companies. We believe GSH is a best in class operator with significant potential to grow throughout the United States. The new company aims to have a broad search focus but intends to identify and acquire a business that could benefit from a hands-on partner with extensive operational, capital markets and investment management experience. David Hamamoto is the CEO and Chairman of SPAC firm Diamondhead Holdings and. The fund owned 147,501 shares of the company's stock after buying an additional 37,626 shares during the quarter. David Hamamoto is 62 years old and was born on 10/26/1959. We have Tom O'Grady, at GSH and Future UHG board member and future UHG Chief Administrative Officer; Shelton Twine, GSH and future UHG Chief Operating Officer; and Keith Feldman, Chief Financial Officer of . As of Aug. 6, Colony was trading at $1.98 per share. He and Mr. Burns, who owns 26 percent of Lordstown, are bound by the merger agreement to hold on to their shares until October. OTA Financial Group L.P. purchased a new stake in DiamondHead in the third quarter worth $235,000. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. Great Southern Homes, one of the largest homebuilders in the Southeast, has entered into a definitive merger agreement with Diamondhead Holdings, Corp., a special purpose acquisition company with $345 million in trust. Recently, federal prosecutors in Manhattan opened their own inquiry. Verition Fund Management LLC Sells 1,335 Shares of TE Connectivity Ltd. (NYSE:TEL), Verition Fund Management LLC Has $1.48 Million Position in Acuity Brands, Inc. (NYSE:AYI), Get a free copy of the StockNews.com research report on DiamondHead (DHHC), Lucira Stock Jumps over 250% on FDA Approval, Beware Chapter 11. DiamondHead is a special purpose acquisition company led by Co-CEO and Chairman David Hamamoto, who has over 40 years of experience in real estate investing, as well as operating both private and . Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. David T. Hamamoto our Chairman and Chief Executive Officer since inception, is the Founder of Diamond Head Partners, LLC which he established in 2017. Our management team is led by our Chief Executive Officer and Chairman, David Hamamoto, and our Chief Financial Officer, Keith Feldman. AlphaCrest Capital Management LLC Trims Position in Best Buy Co., Inc. AlphaCrest Capital Management LLC Sells 26,238 Shares of Hormel Foods Co. Burlington Stores, Inc. Shares Sold by Eaton Vance Management. Founder of Northstar Asset Management Group, Inc., NorthStar Realty Europe Corp., NorthStar Capital Investment Corp. and Diamond Head Partners LLC, David T. Hamamoto is an entrepreneur and businessperson who has been at the helm of 15 different companies and currently occupies the position of Chairman of Northstar Europe SA . diamondhead holdings corp c/wts 28/01/2028 (to pur com)(dhhcw) Steve Burns, the founder of Lordstown Motors, at its plant in Ohio last year. . The transaction includes an earn-out provision pursuant to which GSH stockholders are entitled to receive up to an aggregate maximum of 20 million additional shares, over a five year period, as and when the share price of the combined company reaches certain thresholds. Minimal Gear Needed. Lordstown Motors, the one-year-old Ohio electric automaker that revealed a pickup truck prototype in June, has reached a deal to merge with special-purpose acquisition company DiamondPeak Holdings . The article SPAC DiamondHead Holdings prices $300 million IPO; David Hamamoto follows up RIDE deal originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. The combined company is expected to be listed under the symbol SAKU once DiamondHead Holdings Corp. (DHHCU) Prices $300M IPO, Altimar III (ATAQ) Adjourns Extension Vote Again, The Latest Non-Redemption Agreements: March 3, 2023, The Latest SPAC News and Rumors: March 3, 2023, Plum Acquisition Corp. Lordstown went public in October via a merger with Mr. Hamamotos special purpose acquisition company, DiamondPeak Holdings. Jan 26, 2021 08:23AM EST. Mr. Lawrence, the artist, isnt so sure. New York, New York 101777. With Lordstown shares trading around $18 in November, George Troicky, a self-employed investor from Cleveland, dived in, and he continued to buy over the next few months. Copy and paste multiple symbols separated by spaces. It was June 2020, and Mr. Hamamoto, a former Goldman Sachs executive who invested in real estate, was searching for a business to take public through a . DiamondHead Holdings plans to list on the Nasdaq under the symbol DHHCU. Lordstown also operated in an industry with one of the lowest rates of success; few start-ups have succeeded at mass producing electric vehicles. SC 13G. I still think Lordstown is a great opportunity and they have a great product and a great factory, Mr. Lukens said. Hamamoto's previous SPAC, DiamondPeak Holdings, went public in February 2019 and completed its merger with EV pickup truck developer Lordstown Motors(RIDE; +132% from $10 offer price) in October 2020. The sponsor of DiamondHead is DHP SPAC-II Sponsor LLC, an entity controlled by David Hamamoto. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. This page provides a comprehensive analysis of the known insider trading history of David T Hamamoto. Previously, he served as Executive Vice Chairman of Colony NorthStar (now Colony Capital, Inc. (NYSE:CLNY)), a real estate and investment management firm . He is also a Director of Lordstown Motors Corp. (NYSE:RIDE) and previously served as the Chairman and Chief Executive Officer of DiamondPeak Holdings Corp. A native of Hawaii, Mr. Hamamoto began his career at Goldman Sachs, where he helped run the banks real estate investment companies, known as the Whitehall Street funds. Verition Fund Management LLCs holdings in DiamondHead were worth $1,456,000 as of its most recent filing with the Securities and Exchange Commission. DiamondHead Holdings Corp. is led by Chairman and CEO David T. Hamamoto and CFO and Director Keith Feldman. He had raised $250 million from big Wall Street investors including BlackRock, and spent more than a year looking at over 100 potential targets. Gates Capital Management Reduces Risk . All rights reserved. Renaissance Capital LLC is an SEC-registered investment adviser. He is joined by CFO and Director Keith Feldman, formerCFO of NorthStar Realty Europe (NYSE: NRE) and Managing Director of Colony Capital. Anyone can read what you share. we can see that the largest shareholder is the CEO David Hamamoto with 20% of shares outstanding. The site owner may have set restrictions that prevent you from accessing the site. DiamondHead Holdings Corp. ("DiamondHead") (NASDAQ: DHHC) is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. now owns 94,279 shares of the companys stock worth $929,000 after buying an additional 60,301 shares during the last quarter. David Hamamoto was the founder and Chairman of the previously publicly-traded NorthStar real estate related companies: NorthStar Realty Finance Corp., NorthStar Asset Management Group, Inc. and NorthStar Realty Europe Corp. GSH is currently one of the largest homebuilders in the Southeast. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. David T. Hamamoto. . In Lordstown, those forces eventually collided, highlighting the uneven playing field between Wall Street and Main Street. And Rivian, a start-up that will begin delivering electric pickup trucks this year, has been working on its vehicles for more than 10 years. Verition Fund Management LLC's holdings in DiamondHead were worth $1,456,000 as of [] Should you choose not to accept the cookies used by our website, your internet browser can be set to reject or modify cookie usage based on your preferences. Finally, Bank of Montreal Can increased its position in DiamondHead by 14.8% in the third quarter. The heat is on Mr. Hamamoto. Important Disclosures Also in February, the Securities and Exchange Commission began investigating Lordstown about statements that Mr. Burns had made about the companys sales prospects. . 4. Small investors began piling into Lordstown shares after the merger closed, attracted to the hype around electric vehicles. Your IP: 149.202.91.162, Requested URL: www.builderonline.com/building/great-southern-homes-to-go-public-through-merger-with-diamondhead-holdings_o, User-Agent: Mozilla/5.0 (Windows NT 10.0; Win64; x64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/103.0.0.0 Safari/537.36. Should you choose not to accept cookies, this may have an effect on website performance or accessibility. Renaissance Capital for We are impressed with the scale and operational performance of GSH, and we are excited to work with the GSH team in continuing their growth as a public homebuilder. Investors are suing, including 70-year-old George Troicky, who lost $864,201 on his investment, according to a pending class-action lawsuit. DiamondHead Holdings was founded in 2020 and plans to list on the Nasdaq under the symbol DHHCU. Our website may send a cookie to your computer or mobile device. His special purpose acquisition company, DiamondPeak Holdings, merged with Lordstown Motors. Joe Lukens, a high school friend of Mr. Burnss who owns more than 400,000 shares in Lordstown, said he remained a big believer in Mr. Burnss initial vision. It also names as defendants current Lordstown Motors directors David Hamamoto (also a former DiamondPeak director), Jane Reiss, Keith Feldman, Dale Spencer, Martin Rucidlo, Mickey Kowitz, Angela Boydson and Michael Gates. Good technology isnt enough, Mr. Gordon said. DiamondHead is a special purpose acquisition company led by Co-CEO and Chairman David Hamamoto, who has over 40 years of experience in real estate investing, as well as operating both private and publicly held real estate businesses. (Photo Credit: Jamison Logan / Shutterstock.com) 5. Date Owner Security . Looking for David Hamamoto online? Don't risk buying another IPO without IPO Pro. David T. Hamamoto. He also serves as Advior at Life House. DiamondHead Holdings, the second blank check company led by David Hamamoto targeting businesses with growth potential, raised $300 million by offering 30 million units at $10. Neither Mr. Hamamoto nor his representatives talked to executives at Workhorse about Mr. Burnss stewardship or what had motivated him to suddenly resign and later pursue the factory in Ohio, a person briefed on the merger process said. Person, a natural person, is the Chairman and Co-Chief Executive Officer of the Issuer, and the managing member of Diamond Head Partners LLC. Goldman, which was working with Mr. Hamamoto and arranged $500 million in additional financing for the acquisition, ran only a standard background check on Mr. Burns a public-records search that took more effort than simply looking him up on Google but stopped short of any interviews, a person familiar with the banks activities said. wouldnt partner up with some schmucks.. incorporation) 250 Park Ave, 7th Floor. When you visit our website, we, may automatically collect information from you such as your Internet Protocol (IP) address, location, device and connection information such as browser type and version, plug-in types and versions, and operating system. David Hamamoto lives in New York, NY; previous cities include Honolulu HI and Park City UT. A special committee of Lordstowns board reviewed the stock sales and said it had found nothing improper. Sign in to view structure, cap table, and calendar of events. Marcum LLP serves as auditor. NRE (NorthStar Realty Europe) Dividend Payout Ratio as of today (March 04, 2023) is 0.00. Dividend Payout Ratio explanation, calculation, historical data and m Lordstown Motors Corp. 23 May 22. You do not have access to www.builderonline.com. But why? General Motors sold the plant to Mr. Burns in November 2019 for $20 million, prompting Mr. Trumps praise for the Lordstown founder. Nelson Mullins Riley & Scarborough LLP is acting as counsel to GSH. Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DiamondHead Holdings Corp. (NASDAQ:DHHC Get Rating). American Stock Transfer & Trust Companyis acting as trustee. Additionally, it plans to focus on businesses with enterprise values between$350million and $2 billion. Find Instagram, Twitter, Facebook and TikTok profiles, images and more on IDCrawl - free people search website. Mr. Hamamoto Co-Founded NorthStar Capital in July 1997 which he served as Co-Chief Executive Officer until October 2004. Assuming no redemptions from DHHC shareholders, the transaction will deliver approximately $320 million in cash proceeds, net of estimated transaction costs, to the combined company including a $25 million commitment to purchase and not redeem DHHC public shares from the DHHC sponsor group, including David Hamamoto and Antara Capital. His special purpose acquisition company, DiamondPeak Holdings, merged with Lordstown Motors.CreditPatrick McMullan. DHP MARANA, LLC is an Arizona Foreign LLC filed on July 6, 2020. Even Tesla, the industrys breakout star, didnt deliver its first car until 2008 five years after it was founded. Mr. Hamamotos scrutiny of Lordstowns business was most likely far less than the inspection that a company undergoes in a conventional initial public offering. The company expects that the last day of trading of its units, Class Altimar Acquisition Corp. III (NYSE:ATAQ)announced in an 8-K this afternoon that it has again adjourned its extension vote and will reconvene onMarch 6 at 4:00 p.m. A total of 15,801,410 ordinary shares, representing approximately 81.42% of Altimars outstanding shares, participated in the meeting, so turnout was not an issue, but it is likely that redemption Latest Non-Redemption Agreements: Northern Star Investment Corp. III, Northern Star Investment Corp. IV, M3-Brigade II Northern Star Investment Corp. III (NSTC)Enters Non-Redemption Agreement Northern Star Investment Corp. III(NYSE:NSTC)entered into its fourth non-redemption agreement with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 1,400,000 shares in connection with the Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Give Hamamoto props for checking out the technology, but not checking out the jockey of the horse is an astonishing due-diligence failure., A representative for Mr. Hamamoto said, DiamondPeak performed extensive due diligence of Lordstown., Mr. Hamamoto declined to be interviewed. Our growth plans include both continued organic expansion as well as becoming a merger partner of choice for smaller regional homebuilders located in high growth markets. Bank of Montreal Can now owns 654,322 shares of the companys stock worth $6,465,000 after buying an additional 84,434 shares during the last quarter. Great Southern Homes (GSH) is one of the largest and most established homebuilders in the Southeast, having built more than 11,000 homes over the last two decades. David T. Hamamoto Mr. Hamamoto has served as Chairman and Chief Executive Officer of DiamondPeak from inception and is the Founder of Diamond Head Partners, LLC which he established in 2017. Description. David Hamamoto, Chairman, co-CEO of DiamondHead Holdings Corp., commented: We are thrilled to partner with Michael Nieri and the GSH team and look forward to executing on our shared long-term vision. Hamamoto's previous SPAC, DiamondPeak Holdings, went public in February 2019 and completed its merger with EV pickup truck developer Lordstown Motors(RIDE; +132% from $10 offer price) in October 2020. Create your Watchlist to save your favorite quotes on Nasdaq.com. A few months earlier, other insiders had sold $3 million worth of shares. DiamondHead Holdings, the second blank check company led by David Hamamoto targeting businesses with growth potential, raised $300 million by offering 30 million units at $10.
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