Should you choose not to accept cookies, this may have an effect on website performance or accessibility. The obligation of GSH to complete the transaction is subject to a minimum cash condition of $125 million. The consulting firm said the technology was viable, and the deal came together in weeks. David received a B. S. degree from Stanford University and a M. B. The Company builds homes in South Carolina and Georgia, focusing on the entry level and first time move up home buyer segments. David T. Hamamoto. Person, a natural person, is the Chairman and Co-Chief Executive Officer of the Issuer, and the managing member of Diamond Head Partners LLC. CEO Purchases DiamondHead Shares. His special purpose acquisition company, DiamondPeak Holdings, merged with Lordstown Motors.CreditPatrick McMullan. GSH plans to employ a capital efficient land-light operating model that is expected to generate higher returns with lower cyclical risk compared to a traditional homebuilding operating model. DiamondHead and Antara Capital. Since he knew little about electric vehicles, Mr. Hamamoto hired McKinsey to assess whether the technology that Lordstown had licensed from others could be put together to build an electric truck, several people briefed on the matter said. david hamamoto diamondhead. 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 . In an I.P.O., a company is held to strict reporting standards about its finances and prospects. In late September, Mr. Burns showed off a prototype of the Endurance truck at the White House an unveiling attended by Mr. Trump. Our growth plans include both continued organic expansion as well as becoming a merger partner of choice for smaller regional homebuilders located in high growth markets. David and Martha Hamamoto own a house at 3125 Diamond Head Road. 10177 Mr. Burns did not respond to requests for comment. 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. In the past, Martha has also been known as Martha Hamamoto David, Martha Hamamotto, Martha Meeker, Martha H Meeker and Martha H Hamamoto. Verition Fund Management LLC Sells 1,335 Shares of TE Connectivity Ltd. (NYSE:TEL), Verition Fund Management LLC Has $1.48 Million Position in Acuity Brands, Inc. (NYSE:AYI), Get a free copy of the StockNews.com research report on DiamondHead (DHHC), Lucira Stock Jumps over 250% on FDA Approval, Beware Chapter 11. For purposes of the minimum cash condition, cash includes cash in the DiamondHead trust account after giving effect to redemptions (including the $25 million commitment to purchase and not redeem DHHC public shares from the DHHC sponsor group, including David Hamamoto and Antara Capital) and any other permitted financings obtained in connection with the completion of the transaction. We believe GSH is a best in class operator with significant potential to grow throughout the United States. Will Q4 Results Send Zoom Video Stock Higher? There can be no assurances that the minimum cash condition, which may be waived by GSH, will be satisfied. Should you choose not to accept the cookies used by our website, your internet browser can be set to reject or modify cookie usage based on your preferences. SPAC DiamondHead Holdings prices $300 million IPO; David Hamamoto follows up RIDE deal, Renaissance International ETF (symbol: IPOS), Do Not Sell My Personal Information (CA Residents Only). Good technology isnt enough, Mr. Gordon said. 3.Additional Agreement.Antara Capital LP ("Antara") agrees in connection with the Share Repurchase Commitment contemplated by paragraph 1, upon receipt of a written request from David T. Hamamoto ("Mr. Hamamoto"), to make a loan to Mr. Hamamoto in an amount up to $2,500,000 pursuant to a five year unsecured promissory note, which shall bear interest of 8% per annum from the date such . David T. Hamamoto. Some small investors continued to buy even as Lordstown unraveled. 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. Description. Nelson Mullins Riley & Scarborough LLP is acting as counsel to GSH. In addition, approximately 2.1 million shares owned by the Sponsor currently will be subject to the earn-out. 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 . Total SPAC deal count for 2021 year-to-date is now 74 with $20.98 billion in gross proceeds raised. What followed was a swift merger, then a debacle that put two of the biggest forces shaping the financial world on a collision course. 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. One investor was Maximillian Lawrence, an artist and a high school teacher in Philadelphia. 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. Know which insiders are buying and selling along with top shareholders and ownership breakdown. Lordstown went public in October via a merger with Mr. Hamamotos special purpose acquisition company, DiamondPeak Holdings. Verition Fund Management LLC increased its holdings in shares of DiamondHead Holdings Corp. (NASDAQ:DHHC Get Rating) by 34.2% during the third quarter, HoldingsChannel.com reports. Our website may send a cookie to your computer or mobile device. . Give Hamamoto props for checking out the technology, but not checking out the jockey of the horse is an astonishing due-diligence failure., A representative for Mr. Hamamoto said, DiamondPeak performed extensive due diligence of Lordstown., Mr. Hamamoto declined to be interviewed. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The company is led by CEO and Chairman David Hamamoto, founder of Diamond Head Partners and former Executive Vice Chairman of Colony Capital. In addition, David Hamamoto was a former partner at Goldman, Sachs & Co. and the co-founder of its Real Estate Principal Investment Group and Whitehall funds. So for a company like Lordstown which had no revenue and no truck for sale to succeed, having a management team that could oversee such a complicated endeavor was all the more important. General Motors sold the plant to Mr. Burns in November 2019 for $20 million, prompting Mr. Trumps praise for the Lordstown founder. 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 . (3) Pro -forma shares outstanding does not include the impact from the existing public or private warrants, the sponsor earnout shares, the UHG earnout shares, or the UHG equity incentive plan. Mr. Hamamoto Co-Founded NorthStar Capital in July 1997 which he served as Co-Chief Executive Officer until October 2004. Mr. Burns, who fancied himself as the next Elon Musk, was known as a persuasive talker, prone to hyperbole, former Lordstown employees said. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. T David Hamamoto, Co-Ceo, Chairman, 2023-01-19; In November, Mr. Burns said there were 50,000 serious orders, and in January the number shot up to 100,000. Upon closing of the merger with Great Southern, DiamondHead (NASDAQ: DHHC) will be renamed United Homes Group and trade under the new ticker symbol UHG., 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. As a subscriber, you have 10 gift articles to give each month. 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. Wolverine Asset Management LLC increased its position in DiamondHead by 146.7% in the third quarter. Silicon Valley-based Sakuu makes solid-state and lithium metal batteries for complex active devices using proprietary additive manufacturing processes. Copy and paste multiple symbols separated by spaces. Upon closing of the merger with Great Southern, DiamondHead (NASDAQ: DHHC) will be renamed United Homes Group and trade under the new ticker symbol "UHG." . 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 . DiamondHead Holdings was founded in 2020 and plans to list on the Nasdaq under the symbol DHHCU. The company is led by CEO and ChairmanDavid Hamamoto, founder ofDiamond Head Partners and formerExecutive Vice Chairman of Colony Capital. Owens Corning (NYSE:OC) Shares Sold by Capital Fund Management S.A. Nucor Co. (NYSE:NUE) Shares Sold by Blueshift Asset Management LLC, Stratasys Ltd. (NASDAQ:SSYS) Stock Holdings Lifted by AlphaCrest Capital Management LLC, Blueshift Asset Management LLC Lowers Stock Position in Urban Outfitters, Inc. (NASDAQ:URBN). David Hamamoto. 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. 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. Mr. Hamamoto and Mr. Feldman have had a relationship for more than 15 years and average more than 30 years of real estate and alternatives investing experience across the public and private markets. Two people briefed on the matter said Mr. Burns was already considering a new venture. But the venture started to tank shortly after the deal closed. The company's principal address is 4 Gatehall Dive . 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. He and Mr. Burns, who owns 26 percent of Lordstown, are bound by the merger agreement to hold on to their shares until October. Marcum LLP serves as auditor. 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Thats exactly when BlackRock and other early Wall Street investors as well as top company executives, who all got their shares cheaply before the merger began to sell some of their holdings. HAMAMOTO DAVID T Director: 12,328: $0: 4,241,463 (Direct) View: 2021-01-25 Ownership: 2021-01-25 8:52 pm: N/A N/A: DiamondHead Holdings Corp. DHHC: HAMAMOTO DAVID T DHP SPAC-II Sponsor LLC CEO Chairman: 0: $0: 8,625,000 (Indirect) View: 2020-10-22 Exercise: 2020-10-26 8:33 pm: N/A N/A: Lordstown Motors Corp. RIDE: HAMAMOTO DAVID T Director . The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Additionally, it plans to focus on businesses with enterprise values between$350million and $2 billion. Great Southern Homes (GSH) is one of the largest and most established homebuilders in the Southeast, having built more than 11,000 homes over the last two decades. GSH is currently one of the largest homebuilders in the Southeast. 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. 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. A few months earlier, other insiders had sold $3 million worth of shares. Martha Hamamoto is 63 years old and was born on 03/29/1959. DiamondHead co-CEO and chairman David Hamamoto has over 40 years of experience in real estate investing, as well as operating both private and public real estate businesses. The sponsor of DiamondHead is DHP SPAC-II Sponsor LLC, an entity controlled by David Hamamoto. David Hamamoto General Information. DHP MARANA, LLC is an Arizona Foreign LLC filed on July 6, 2020. Ladies and Gentlemen: On behalf of our client, DiamondHead Holdings Corp. (the "Company"), this letter responds to a comment from the staff (the "Staff") of the Division of Corporation Finance of the U.S. Securities and Exchange Commission (the "Commission") in a telephone conversation on December 2, 2022 concerning the above-referenced Preliminary Proxy Statement on Schedule 14A, filed with . 4. Regulators are investigating whether its founder, Steve Burns, who resigned as chief executive in June, overstated claims about truck orders. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. Diamond Head Rd. Previously, he served as Executive Vice Chairman of Colony NorthStar (now Colony Capital . In early 2019, he launched his SPAC, DiamondPeak, with the intention of merging with a real estate business. The sponsor of DiamondHead is DHP SPAC-II Sponsor LLC, an entity controlled by David Hamamoto. Zelman Partners is acting as exclusive M&A advisor to DiamondHead. Goldman Sachs is the sole bookrunner on the deal. This was a buyer beware situation, he said. 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 publicly held real estate businesses. Hamamoto, for example, sold 1 million shares at $16.38 per unit for a total of $16.38 million on Oct. 22, 2020 . DiamondPeak will be led by David Hamamoto, the former founder of the Northstar Companies, which was sold to Colony Capital (NYSE: CLNY) in January of 2017. 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). Shares of NASDAQ DHHC opened at $10.14 on Wednesday. Lordstown Motors Corp. 23 May 22. Want to see what other hedge funds are holding DHHC? . Renaissance Capital LLC is an SEC-registered investment adviser. 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. 4. You've requested a page on a website (cloudflarepreview.com) that is on the Cloudflare network. The company also shared additional information about itself with DiamondPeak. He is joined by CFO and DirectorKeith Feldman, formerCFO of NorthStar Realty Europe (NYSE: NRE) and Managing Director of Colony Capital. New York, New York. DiamondHead Holdings Corp. . By the time Goldman took Lordstown to him, Mr. Hamamotos team had lost out on several other opportunities, a person familiar with the matter said. Cloudflare is currently unable to resolve your requested domain. A lawyer declined to comment on his behalf, citing the suit. While the company has not selected a target industry or geography, DiamondHead Holdings plans to focus on businesses withcompelling growth potential and competitive market position, strong management teams, among other characteristics. Mr. Hamamotos scrutiny of Lordstowns business was most likely far less than the inspection that a company undergoes in a conventional initial public offering. This offering is expected to close on Thursday, January 28. David T Hamamoto is Lead Director at Lordstown Motors Corp. See David T Hamamoto's compensation, career history, education, & memberships. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. Employer Identification No.) 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. 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. DIAMONDHEAD HOLDINGS CORP. (Exact name of registrant as specified in its charter) Delaware: 001-39936: 85-3460766 (State or other jurisdiction of (Commission File Number) (I.R.S. I was willing to overlook a lot of things because of the affiliation with G.M. DiamondHead Holdings Corp. is a blank check special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. With 7.9% and 5.6% of the shares outstanding respectively, BlackRock, Inc. and Adage Capital Management, L.P. are the . The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. The Company currently has a presence in South Carolina and Georgia and focuses on providing high-quality, affordable homes for the entry-level and first move-up segments.