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Lennar Completes Spin-off of Millrose Properties

Provided By PR Newswire

Last update: Feb 7, 2025

MIAMI, Feb. 7, 2025 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B, "Lennar"), one of the nation's leading homebuilders, and Millrose Properties, Inc. (NYSE: MRP, "Millrose"), a "first-of-its-kind" homesite option purchase platform, jointly announced today that they have successfully completed the previously announced taxable spin-off (the "Spin-Off") of Millrose from Lennar through a distribution of approximately 80% of Millrose's stock to Lennar's stockholders (the "Distribution"). Prior to the open of trading on the New York Stock Exchange today, each holder of Lennar Class A or Class B common stock as of the close of business on January 21, 2025, the record date of the Spin-Off, received one share of Millrose Class A common stock, unless the holder elected to receive one share of Millrose Class B common stock, for each two shares of Lennar Class A or Class B common stock. Fractional shares of Millrose Class A common stock will be aggregated and sold in the public market with proceeds distributed pro-rata to Lennar stockholders who would have been entitled to receive fractional shares of Millrose Class A common stock. Fractional shares of Millrose Class B common stock will be rounded down.

Read more at prnewswire.com

LENNAR CORP-A

NYSE:LEN (4/30/2025, 8:18:25 PM)

Premarket: 109.21 +0.6 (+0.55%)

108.61

+1.03 (+0.96%)


MILLROSE PROPERTIES

NYSE:MRP (4/30/2025, 8:22:58 PM)

Premarket: 25.4 +0.36 (+1.44%)

25.04

+0.04 (+0.16%)



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