It was June 2020, and Mr. Hamamoto, a former Goldman Sachs executive who invested in real estate, was searching for a business to take public through a merger with his shell company. In an I.P.O., a company is held to strict reporting standards about its finances and prospects. Occidental Petroleum Pulls Back To The Sweet Spot. We are impressed with the scale and operational performance of GSH, and we are excited to work with the GSH team in continuing their growth as a public homebuilder. Diamond Head Rd. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. All rights reserved. Lordstown Motors Corp. 23 May 22. Lordstown Motors Corp. 26 Oct 20. The 15 highest-paid corporate chiefs in America took home a whopping $1.1 billion last year -- about $70 million apiece on average. In November, Mr. Burns said there were 50,000 serious orders, and in January the number shot up to 100,000. Also in February, the Securities and Exchange Commission began investigating Lordstown about statements that Mr. Burns had made about the companys sales prospects. Sign in for more on DiamondHead Holdings Corp.: Structure and cap table; 6 directors & officers; 19 filings and events; 1 underwriters; 2 deal advisors; . The Board of Directors of GSH and DHHC have approved the transaction. Marcum LLP serves as auditor. Additionally, it plans to focus on businesses with enterprise values between $350 million and $2 billion. Goldman Sachs acted as lead manager on the deal. In 2017, NorthStar merged with Colony Capital, a firm run by Mr. Trumps longtime ally Thomas J. Barrack Jr., to create a company with $58 billion in assets. The transaction also provides that additional Sponsor shares will become subject to the earn-out to the extent there is not $100 million of common stock at closing (including shares of common stock not redeemed, newly issued common stock and common stock subject to any convertible securities issued by DHHC prior to the closing). Don't risk buying another IPO without IPO Pro. David Hamamoto, Chairman, co-CEO of DiamondHead Holdings Corp., commented: We are thrilled to partner with Michael Nieri and the GSH team and look forward to executing on our shared long-term vision. David Hamamoto. Recently, federal prosecutors in Manhattan opened their own inquiry. . BlackRock, which originally owned a little more than 2 percent of the combined company, reported owning about 1 percent in March. SC 13G. He became one of Goldmans youngest partners before striking out on his own in 1997. . now owns 94,279 shares of the companys stock worth $929,000 after buying an additional 60,301 shares during the last quarter. Renaissance Capital LLC is an SEC-registered investment adviser. Mr. Hamamoto is a citizen of the United States of . On Thursday afternoon following the closure of US equity markets, a form 4 was filed for DiamondHead Holdings (NASDAQ:DHHC) which revealed the groups CEO and Chairman David Hamamoto had bought more stock in the blank check company ahead of its planned merger with Great Southern Homes. We do know that it's a SPAC formed by the energy-investing group at Silverpeak Capital, a New York-based private equity firm; and David Hamamoto, a serial entrepreneur with a long track record of . Cloudflare is currently unable to resolve your requested domain. Each unit consists of one share of . MERGER IMAGE: David Hamamoto & Mike Satterfield DATE: 09/12/2022 COMPANIES: Great Southern Homes, Inc & DiamondHead Holdings Corp VALUATION: $572,000,000 Our management team is led by our Chief Executive Officer and Chairman, David Hamamoto, and our Chief Financial Officer, Keith Feldman. But the venture started to tank shortly after the deal closed. Renaissance Capital->. Goldman Sachs is the sole bookrunner on the deal. DiamondHead Holdings, CEO and Chairman 250 Park Avenue, New York, NY, 212-572-6260 . Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. At the same time, small investors have become a potent force in the markets, driving up the stock prices of companies like GameStop and lapping up shares of SPACs, which are highly speculative and can pose financial risks. The company expects that the last day of trading of its units, Class Altimar Acquisition Corp. III (NYSE:ATAQ)announced in an 8-K this afternoon that it has again adjourned its extension vote and will reconvene onMarch 6 at 4:00 p.m. A total of 15,801,410 ordinary shares, representing approximately 81.42% of Altimars outstanding shares, participated in the meeting, so turnout was not an issue, but it is likely that redemption Latest Non-Redemption Agreements: Northern Star Investment Corp. III, Northern Star Investment Corp. IV, M3-Brigade II Northern Star Investment Corp. III (NSTC)Enters Non-Redemption Agreement Northern Star Investment Corp. III(NYSE:NSTC)entered into its fourth non-redemption agreement with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 1,400,000 shares in connection with the Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Should you choose not to accept cookies, this may have an effect on website performance or accessibility. Anyone can read what you share. The company is led by CEO and Chairman David Hamamoto, founder of Diamond Head Partners and former Executive Vice Chairman of Colony Capital. He also serves as Advior at Life House. The combined company is expected to be listed under the symbol SAKU once DiamondHead Holdings Corp. (DHHCU) Prices $300M IPO, Altimar III (ATAQ) Adjourns Extension Vote Again, The Latest Non-Redemption Agreements: March 3, 2023, The Latest SPAC News and Rumors: March 3, 2023, Plum Acquisition Corp. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. Uncover the latest insider trading activity for DiamondHead Holdings Corp. (DHHC). GSH was the 25thranked starter-home builder and the 41stranked single-family detached home builder in the United States, respectively, based on 2021 home closings according toPro Builders 2022 Housing Giants Report. On Thursday afternoon following the closure of US equity markets, a form 4 was filed for DiamondHead Holdings which revealed the groups CEO and Chairman David Hamamoto had bought more stock in the blank check company ahead of its planned merger with Great Southern Homes.These trades come only one week after the Chairman bought 1 million shares at $1.09 last week on the 12th of January. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Previously, David was a Chairman at SPAXEL and also held positions at Colony Capital, Nsam, Goldman Sachs. Find Instagram, Twitter, Facebook and TikTok profiles, images and more on IDCrawl - free people search website. Goldman, which was working with Mr. Hamamoto and arranged $500 million in additional financing for the acquisition, ran only a standard background check on Mr. Burns a public-records search that took more effort than simply looking him up on Google but stopped short of any interviews, a person familiar with the banks activities said. 10177 Find Instagram, Twitter, Facebook and TikTok profiles, images and more on IDCrawl. Mr. Hamamoto, whose investment group once owned a fifth of the SPAC, got some of those shares at a steep discount meaning that they lose little even if the stock collapses. Two people briefed on the matter said Mr. Burns was already considering a new venture. I figured G.M. We believe there continues to be a massive undersupply of single family homes in the U.S., especially in starter and first move up products which will result in significant demand for the foreseeable future. The sponsor of DiamondHead is DHP SPAC-II Sponsor LLC, an entity controlled by David Hamamoto. We believe GSH is a best in class operator with significant potential to grow throughout the United States. You can see DiamondHead Holdings' historic earnings and revenue below, but keep in mind there's always more to the story. He is joined by CFO and DirectorKeith Feldman, formerCFO of NorthStar Realty Europe (NYSE: NRE) and Managing Director of Colony Capital. Written by We are impressed with the scale and operational performance of GSH, and we are excited to work with the GSH team in continuing their growth as a public homebuilder. Even Tesla, the industrys breakout star, didnt deliver its first car until 2008 five years after it was founded. Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DiamondHead Holdings Corp. (NASDAQ:DHHC Get Rating). Sullivan & Cromwell LLP is acting as counsel to DHHC. The company was incorporated in 2020 and is based in New York, New York. Mr. Hamamotos scrutiny of Lordstowns business was most likely far less than the inspection that a company undergoes in a conventional initial public offering. Mr. Troicky, who lost close to a million dollars on his investment, later said in his lawsuit that he had based his decision on my own research of publicly available information. A federal judge recently approved him as the lead plaintiff in the pending class-action lawsuit. Tourist walkway in Diamond Head State Monument. . 3. Learn about DiamondHead Holdings Corp. (DHHC.U) stock's management team. DiamondHead Holdings Corp. 19 Jan 23. 10 Feb 21. wouldnt partner up with some schmucks.. The transaction is expected to close during the first quarter of 2023. This cookie is a text file stored on your computer that is used for analytic web usage information. But why? Mr. Lawrence, 46, said he believed Lordstown would succeed largely because of the implicit backing of G.M. Renaissance Capital for He is joined by CFO and Director Keith Feldman, formerCFO of NorthStar Realty Europe (NYSE: NRE) and Managing Director of Colony Capital. He resigned as chief executive in June. DiamondHead Holdings Corp. ("DiamondHead") (NASDAQ: DHHC) is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. This offering is expected to close on Thursday, January 28. DiamondHead Holdings Corp. is led by Chairman and CEO David T. Hamamoto and CFO and Director Keith Feldman. Mr. Hamamoto, along with members of his team and Goldman bankers, made at least two visits to the Lordstown factory in Lordstown, Ohio, to meet with Mr. Burns in June last year, according to regulatory documents. Goldman Sachs & Co. LLC is serving as book-running manager for the offering. While the company has not selected a target industry or geography, DiamondHead Holdings plans to focus on businesses with compelling growth potential and competitive market position, strong management teams, among other characteristics. He is also a director and chairman of the nominating and corporate governance committee of Lordstown. A native of Hawaii, Mr. Hamamoto began his career at Goldman Sachs, where he helped run the banks real estate investment companies, known as the Whitehall Street funds. DiamondHead Holdings, the second blank check company led by David Hamamoto targeting businesses with growth potential, filed on Friday with the SEC to raise up to $300 million in an initial public offering. As a subscriber, you have 10 gift articles to give each month. Regulators are investigating whether its founder, Steve Burns, who resigned as chief executive in June, overstated claims about truck orders. DHP MARANA, LLC is an Arizona Foreign LLC filed on July 6, 2020. Get your FREE TRIAL now. Important Disclosures Person, a natural person, is the Chairman and Co-Chief Executive Officer of the Issuer, and the managing member of Diamond Head Partners LLC. Mr. Karacic, who hasnt broken even, said he harbored no ill will toward the early investors. For context, the second . Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by BlackRock Inc. BlackRock Inc. Lowers Position in APA Co. (NASDAQ:APA), Piper Sandler Boosts Duolingo (NYSE:DUOL) Price Target to $127.00, BlackRock Inc. Cuts Holdings in NortonLifeLock Inc. (NASDAQ:NLOK), Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells $161,325.00 in Stock, Caisse DE Depot ET Placement DU Quebec Has $2.15 Million Position in Franklin Resources, Inc. (NYSE:BEN), Capital Fund Management S.A. Makes New Investment in CVR Energy, Inc. (NYSE:CVI), 12,000 Shares in Stratasys Ltd. (NASDAQ:SSYS) Purchased by Gabelli Funds LLC. In addition to a bit of money, you should bring your own water bottles (there are fountains at the beginning of the trail, but none as you ascend), a hat and sunscreen, and good walking shoes. Form S-4/A (registration of securities, business combinations) filed with the SEC A lawyer declined to comment on his behalf, citing the suit. David received a B. S. degree from Stanford University and a M. B. DiamondHead Holdings, the second blank check company led by David Hamamoto targeting businesses with growth potential, raised $300 million by offering 30 million units at . 74.00% of the stock is currently owned by institutional investors. One said Mr. Burns liked to engage in magical thinking, behaving as if he could will things into existence. Relatives & Associates. Latest SPAC Liquidations: VPC Impact Acquisition Holdings II VPC Impact Acquisition Holdings II(VPCB) to Liquidate on March 9 VPC Impact Acquisition Holdings II (NASDAQ: VPCB) today announced that it will redeem all of its outstanding Class A ordinary shares on March 21. The stock has a fifty day moving average of $10.09 and a 200-day moving average of $9.98. David Hamamoto. Looking for David Hamamoto online? It also names as defendants current Lordstown Motors directors David Hamamoto (also a former DiamondPeak director), Jane Reiss, Keith Feldman, Dale Spencer, Martin Rucidlo, Mickey Kowitz, Angela Boydson and Michael Gates. The company's principal address is 4 Gatehall Dive . You've requested a page on a website (cloudflarepreview.com) that is on the Cloudflare network. Diamond Head is a volcanic cone on the Hawaiian island of Oahu and is the most popular Hawaii State Park. DiamondHead is a special purpose acquisition company led by Co-CEO and Chairman David Hamamoto, who has over 40 years of experience in real estate investing, as well as operating both private and . Lordstown Motors, the one-year-old Ohio electric automaker that revealed a pickup truck prototype in June, has reached a deal to merge with special-purpose acquisition company DiamondPeak Holdings . 2023 Renaissance Capital LLC. Shares of NASDAQ DHHC opened at $10.14 on Wednesday. Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. David Hamamoto is the CEO and Chairman of SPAC firm Diamondhead Holdings and. According to the SEC Form 4 filings, David T Hamamoto has made a total of 0 transactions in NorthStar Realty Finance Corp (NRF) over the past 5 years. Stephen Cummings, who has known Mr. Hamamoto for 15 years and served on the board of one of his companies, said the investor has been successful because he is smart, creative and consistently reliable, and has always kept the interests of all his shareholders at heart. DiamondHead and Antara Capital. This was a buyer beware situation, he said. incorporation) 250 Park Ave, 7th Floor. The clock was ticking for David Hamamoto. DiamondHead Holdings, CEO and Chairman 250 Park Avenue, New York, NY, 212-572-6260 . Gates Capital Management Reduces Risk . Tudor Investment Corp Et Al Increases Holdings in Artivion, Inc. BlackRock Inc. Chaos ensued. (800) 464-2924. Michael Nieri, Founder and CEO of Great Southern Homes, said, For over 20 years I have worked to build GSH into the leading Southeast homebuilder it is today. 4. Its stock price has plunged to $9, from around $31. Founder of Diamond Head Partners LLC New York, New York . David Hamamoto in 2007. The consulting firm said the technology was viable, and the deal came together in weeks. Insiders are officers, directors, or significant investors in a company. David Hamamoto was the founder and Chairman of the previously publicly-traded NorthStar real estate related companies: NorthStar Realty Finance Corp., NorthStar Asset Management Group, Inc. and NorthStar Realty Europe Corp. A Wall Street innovation, SPACs are all the rage, having raised more than $190 billion from investors since the start of 2020, according to SPACInsider. DiamondHead Holdings, the second blank check company led by David Hamamoto targeting businesses with growth potential, raised $300 million by offering 30 million units at $10. GSH is currently one of the largest homebuilders in the Southeast. David Hamamoto lives in New York, NY; previous cities include Honolulu HI and Park City UT. Upon closing of the merger, GSH will become a publicly traded company, and DiamondHead (NASDAQ: DHHC) [] What followed was a swift merger, then a debacle that put two of the biggest forces shaping the financial world on a collision course. A. from Wharton School of Business at the University of Pennsylvania. Provide free DIAMONDHEAD HOLDINGS CORP C/WTS 28/01/2028 (TO PUR COM)(DHHCW) major events announcements, including the company's latest resolutions of the general meeting of shareholders, notices of board meeting, important performance progress and other announcements. It was June 2020, and Mr. Hamamoto, a former Goldman Sachs executive who invested in real estate, was searching for a business to take public through a . Maximillian Lawrence, an artist and a teacher in Philadelphia, said he had viewed his Lordstown shares as a long-term holding., $3.5 billion electric-vehicle battery factory. The most-recent trade in DiamondHead Holdings Corp is the acquisition of 250,000 shares on January 18, 2023, which cost David T Hamamoto around $3 Million. The firms declined to comment on their holdings. In early 2019, he launched his SPAC, DiamondPeak, with the intention of merging with a real estate business. His special purpose acquisition company, DiamondPeak Holdings, merged with Lordstown Motors.CreditPatrick McMullan. And Rivian, a start-up that will begin delivering electric pickup trucks this year, has been working on its vehicles for more than 10 years. Wed be lying to ourselves if we thought this was a fair market., Behind the Lordstown Debacle, the Hand of a Wall Street Dealmaker, https://www.nytimes.com/2021/07/13/business/lordstown-motors-dealmaker.html. DiamondHead Holdings plans to list on the Nasdaq under the symbol DHHCU. Type a symbol or company name. Previously, he served as Executive Vice Chairman of Colony NorthStar (now Colony Capital, Inc. (NYSE:CLNY)), a real estate and investment management firm . Additionally, we are building out a programmatic, institutional build-to-rent platform, where our current product set and geographic footprint are well positioned to meet the demands of the strong and growing rental market for single family homes., David Hamamoto, Chairman and co-CEO of DiamondHead Holdings Corp., commented: We are thrilled to partner with Michael Nieri and the GSH team and look forward to executing on our shared long-term vision. Founder of Northstar Asset Management Group, Inc., NorthStar Realty Europe Corp., NorthStar Capital Investment Corp. and Diamond Head Partners LLC, David T. Hamamoto is an entrepreneur and businessperson who has been at the helm of 15 different companies and currently occupies the position of Chairman of Northstar Europe SA . DHHCU. Landscape Capital Management L.L.C. The article SPAC DiamondHead Holdings prices $300 million IPO; David Hamamoto follows up RIDE deal originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Employer Identification No.) Mr. David Hamamoto serves as Chairman and Chief Executive Officer of Diamond Head Partners, LLC which he established in 2017. Founder of Northstar Asset Management Group, Inc., NorthStar Realty Europe Corp., NorthStar Capital Investment Corp. and Diamond Head Partners LLC, David T. Hamamoto is an entrepreneur and businessperson who has been at the helm of 15 different companies and currently occupies the position of Chairman of Northstar Europe SA, Chairman of Ns Real Estate Income Trust Advisor LLC, Chairman & Co-Chief Executive Officer at DiamondHead Holdings Corp., Chairman at Spaxel LLC and Chairman & Chief Executive Officer at Northstar Healthcare Investors, Inc. David T. Hamamoto is also on the board of 6 other companies. David Hamamoto, Chairman and co-CEO of DiamondHead Holdings Corp., commented: "We are thrilled to partner with Michael Nieri and the GSH team and look forward to executing on our shared long-term vision.We are impressed with the scale and operational performance of GSH, and we are excited to work with the GSH team in continuing their growth as a public homebuilder. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Martha Hamamoto is 63 years old and was born on 03/29/1959. Hamamoto's previous SPAC,DiamondPeak Holdings, went public in February 2019 and completed its merger withEV pickup truck developer Lordstown Motors (RIDE; +133% from $10 offer price) in October 2020. He and Mr. Burns, who owns 26 percent of Lordstown, are bound by the merger agreement to hold on to their shares until October. Mr. Burns, who fancied himself as the next Elon Musk, was known as a persuasive talker, prone to hyperbole, former Lordstown employees said. Mr. Burns, 62, left Workhorse in February 2019 to start Lordstown, leaving behind years of losses and a company that produced just a few hundred vehicles. Landscape Capital Management L.L.C. James Wei's company, Puuwai Estate LLC, owns 3133 Diamond Head Road and Peter Tomozawa's (correct spelling) wife, Donna Leduc . Additionally, it plans to focus on businesses with enterprise values between$350million and $2 billion. Cookies collect anonymous information, but not personally identifiable information. Track SPACs on IPO Pro. David Hamamoto in 2007. David Hamamoto, Chairman, co-CEO of DiamondHead Holdings Corp., commented: "We are thrilled to partner with Michael Nieri and the GSH team and look forward to executing on our . Track SPACs on IPO Pro. In early August, news of the merger of DiamondPeak and Lordstown drove shares of the SPAC up 20 percent. Name Age Title; David T. Hamamoto 61: Chairman and Co-CEO: Keith Feldman 44: CFO: Judith A. Hannaway 67: Director: Your IP: 149.202.91.162, Requested URL: www.builderonline.com/building/great-southern-homes-to-go-public-through-merger-with-diamondhead-holdings_o, User-Agent: Mozilla/5.0 (Windows NT 10.0; Win64; x64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/103.0.0.0 Safari/537.36. David T. Hamamoto Mr. Hamamoto has served as Chairman and Chief Executive Officer of DiamondPeak from inception and is the Founder of Diamond Head Partners, LLC which he established in 2017. Get your FREE TRIAL now. We may also collect analytic tracking information about your visits to our website. . MarketBeat.com's FREE daily email newsletter, Kroger Shares Gap Up on Better-Than-Expected Earnings. Plum I (NASDAQ:PLMI) has entered into a definitive agreement to combine with additive manufacturing battery company Sakuu at an enterprise value of $705 million. The Registered Agent on file for this company is CT Corporation System and is located at 3800 North Central Avenue, Suite 460, Phoenix, AZ 85012. DiamondHead Holdings, the second blank check company led by David Hamamoto targeting businesses with growth potential, raised $300 million by offering 30 million units at $10.