On November 13, 2013, LGI Homes, Inc. (the “Company”) completed its initial public offering of 10,350,000 shares of common stock at a price of $11.00 per share, including 1,350,000 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares. Shares of the Company’s common stock trade on NASDAQ under the ticker symbol “LGIH.”

The IPO generated approximately $105.9 million of net proceeds for the Company. The Company used $36.9 million of the net proceeds from the offering as the cash portion of the purchase price to acquire joint venture interests in four joint ventures. The Company owns the other 15% equity interest in, and manages the day-to-day operations of, these joint ventures. The Company expects to use the remainder of the net proceeds for working capital and for general corporate purposes, including the acquisition of land, development of lots and construction of homes.

Deutsche Bank Securities, JMP Securities and J.P. Morgan acted as joint book-running managers for the offering. Barclays Capital Inc., BofA Merrill Lynch, BTIG and Builder Advisor Group, LLC acted as co-managers.

Baker Botts represented the underwriters in the offering.

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