Meritage Homes Completes Offering of 1.75% Convertible Senior Notes

SCOTTSDALE, Ariz., May 9, 2024 (GLOBE NEWSWIRE) — Meritage Homes Corporation (NYSE: MTH, “Meritage” or the “Company”), the fifth largest homebuilder in the United States, today announced that it has completed its offer and sale of $575 million aggregate principal amount of 1.75% convertible senior notes due 2028. This amount includes the full exercise by the initial purchasers of their option to purchase an aggregate principal amount of an additional $75 million in notes.

The offering was made to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offer and sale of the Notes, the related guarantees and any shares of Meritage common stock issuable upon conversion of the Notes have not been and are not expected to be registered under the Securities Act or under any law securities of the State and, unless registered, the Notes, the guarantees thereunder and such shares may not be offered or sold in the United States except pursuant to an exemption or in a transaction not subject to the registration requirements of the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be illegal prior to registration or qualification. under the securities laws of any such state.

About the Meritage Homes Corporation

Meritage is the fifth largest public homebuilder in the United States, based on homes closed in 2023. The company offers energy-efficient and affordable entry-level and starter homes. Operations span Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.

Meritage has delivered more than 180,000 homes in its 38-year history and is renowned for its distinctive style, quality construction and award-winning customer experience. The company is an industry leader in energy-efficient residential construction, an eleven-time recipient of the ENERGY STAR® Partner of the Year for Sustained Excellence Award from the United States Environmental Protection Agency (“EPA”), ten-time recipient of the EPA ENERGY STAR award. ® Market Leader Award for New Residential Construction and three-time recipient of the EPA’s Indoor airPLUS Leader Award.