ARLINGTON, Va., April 28, 2017 /PRNewswire/ -- CalAtlantic
Group, Inc. (NYSE: CAA) today announced adjustments to the
conversion rates for certain of the company's convertible senior
notes. These conversion rate adjustments are being made pursuant to
the supplemental indentures governing such notes as a result of the
company's payment of six quarterly cash dividends on shares of its
common stock of $0.04 per share from
December 31, 2015 until March 31, 2017. Effective immediately, the
conversion rate for the notes will be as follows:
1.625% convertible senior notes due 2018
The conversion rate for the Company's 1.625% senior convertible
notes will be 31.8664 shares of common stock per $1,000 principal amount of the notes. Prior to
the adjustment, the conversion rate for the notes was 31.8130
shares of common stock per $1,000
principal amount of the notes.
0.25% convertible senior notes due 2019
The conversion rate for the Company's 0.25% senior convertible
notes will be 13.6080 shares of common stock per $1,000 principal amount of the notes. Prior to
the adjustment, the conversion rate for the notes was 13.5853
shares of common stock per $1,000
principal amount of the notes.
About CalAtlantic Group, Inc.
CalAtlantic Group, Inc. (NYSE: CAA), one of the nation's largest
and most respected homebuilders, offers well-crafted homes in
thoughtfully designed communities that meet the desires of
customers across the homebuilding spectrum, from entry level to
luxury, in 41 Metropolitan Statistical Areas spanning 17
states. With a trusted reputation for quality craftsmanship,
an outstanding customer experience and exceptional architectural
design earned over its 50 year history, CalAtlantic Group, Inc.
utilizes its over five decades of land acquisition, development and
homebuilding expertise to acquire and build desirable communities
in locations that meet the high expectations of the company's
homebuyers. We invite you to learn more about us by visiting
www.calatlantichomes.com.
Source: CalAtlantic Group, Inc.
Contact: Jeff McCall, EVP
& CFO (240) 532-3888, jeff.mccall@calatl.com
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SOURCE CalAtlantic Group, Inc.