RTTNews | Jul 23, 2021 08:45AM EDT

08:45 Friday, July 23, 2021 (RTTNews.com) - The New Home Co. (NWHM) agreed to be acquired by funds managed by affiliates of Apollo Global Management Inc. (APO) for $9.00 per share in cash. The transaction values the company at an enterprise value of about $338 million.

In Friday pre-market trade, NWHM was trading at $8.89 up $4.03 or 82.92%.

Upon the completion of the transaction, NWHM will become a privately held company and shares of NWHM common stock will no longer be listed on any public market.

As per the terms of the deal, the Apollo Funds will commence a tender offer to acquire all outstanding shares of NWHM for $9.00 per share in cash. The purchase price represents an 85% premium to the closing stock price on July 22, 2021 of $4.86 per share.

The holders of about 30% of NWHM's shares of common stock have agreed to tender their shares to the Apollo Funds.

The deal is expected to close in the second half of the company's fiscal year.

Read the original article on RTTNews ( https://www.rttnews.com/3211503/new-home-co-agrees-to-be-taken-private-by-apollo-global-in-338-mln-deal-stock-surges.aspx)

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