Landsea Homes Corporation (NASDAQ:LSEA), a residential homebuilder, has entered into a settlement agreement with Landsea Holdings Corporation, resolving previous service-related claims. Under the terms of the agreement dated Thursday, Landsea Holdings will compensate Landsea Homes with a payment of approximately $4.3 million.
This settlement comes after a period of discussions between the two entities, concluding with a formal agreement that provides closure to their outstanding financial matters. The compensation pertains to certain services that Landsea Homes had provided to Landsea Holdings in the past.
The agreement, effective immediately, was detailed in a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC). The document outlining the full terms of the settlement is attached as an exhibit to the filing, ensuring transparency for shareholders and stakeholders.
Landsea Homes, headquartered in Dallas, Texas, operates within the Operative Builders industry under the SIC code 1531. The company's common stock and warrants are traded on The Nasdaq Capital Market under the ticker symbols LSEA and LSEAW, respectively.
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