PLANO, Texas, June 18, 2018 (GLOBE NEWSWIRE) -- Green Brick Partners, Inc. (NASDAQ:GRBK) announced today that it is commencing a registered underwritten public offering of 10,700,000 shares of its common stock. The Company is issuing and selling 2,488,733 shares, and certain selling stockholders affiliated with Third Point LLC are selling 8,211,267 shares. The Company expects to grant the underwriters a 30-day option to purchase up to 1,605,000 additional shares of the Company’s common stock.

The Company intends to use the net proceeds of its portion of the offering for general corporate purposes. The Company will not receive any proceeds from the sale of shares by the selling stockholders.

Citigroup, Credit Suisse and J.P. Morgan are joint book-running managers for the offering. BTIG and JMP Securities will act as co-managers for the offering.

About Green Brick Partners

Green Brick Partners, Inc. (NASDAQ:GRBK) is a diversified homebuilding and land development company. Green Brick owns a controlling interest in four homebuilding companies in Dallas, Texas (CB JENI Homes of DFW LLC, Normandy Homes (a division of CB JENI), Southgate Homes DFW LLC, and Centre Living Homes, LLC), as well as a homebuilder in Atlanta, Georgia (The Providence Group of Georgia, LLC) and a homebuilder in Port St. Lucie, Florida (GRBK GHO Homes, LLC). Green Brick also owns a non-controlling interest in Challenger Homes in Colorado Springs, Colorado. The Company is engaged in all aspects of the homebuilding process, including land acquisition and the development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master planned communities.