IRVINE, Calif., May 15, 2013 /PRNewswire/ -- Standard Pacific Corp. (NYSE: SPF) today announced the pricing of the previously announced 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, at a public offering price of $9.50 per share, resulting in gross proceeds to the selling stockholder of approximately $190,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses. The selling stockholder granted to the underwriters of the 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 is acting as sole bookrunner for the common stock offering. Zelman Partners LLC and CRT Capital Group LLC are acting as co-managers. The Company will not sell any shares in the common stock offering, and will not receive any of the proceeds from the sale by MP CA Homes LLC. The closing of the common stock offering is expected to occur on May 20, 2013, subject to customary closing conditions.
The Company has an effective registration statement (including a prospectus) on file with the Securities and Exchange Commission (the "SEC") and has filed 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 with the SEC for more complete information about Standard Pacific and the 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: email@example.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.