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The New Home Company Announces Pricing of Initial Public Offering

January 31, 2014

ALISO VIEJO, Calif. --(BUSINESS WIRE)-- The New Home Company, Inc. (the “Company” or “New Home”) announced the pricing of its initial public offering of 7,812,500 shares of its common stock at a price to the public of $11.00 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,171,875 shares of common stock. The shares are expected to begin trading on the New York Stock Exchange under the symbol “NWHM” on January 31, 2014 . The offering is expected to close on or about February 5, 2014 subject to the satisfaction of customary closing conditions. The net proceeds to the Company from the offering, after deducting the underwriting discount and estimated offering expenses, will be approximately $76.7 million . The Company intends to use the net proceeds from the offering primarily for the acquisition of land, development of lots, home construction and other related purposes. If the underwriters exercise their option to purchase additional shares, the Company will use the net proceeds from the sale of those additional shares to purchase an equivalent number of shares of common stock from one of its non-management, pre-IPO institutional investors. Citigroup, J.P. Morgan and Credit Suisse are acting as joint book-runners of the offering. Zelman Partners LLC is acting as lead manager of the offering. The offering of these securities is being made only by means of a prospectus. Copies of the preliminary prospectus, or, when available, the final prospectus, can be obtained from: Citigroup Global Markets Inc. Attention: c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Phone: (800) 831-9146 J.P. Morgan Securities LLC Attention: c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Phone: (866) 803-9204 Credit Suisse Securities ( USA ) LLC Attention: Prospectus Department One Madison Avenue New York, NY 10010 Phone: (800) 221-1037 A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 30, 2014 . The offering of these securities is made only by means of a written prospectus relating to the effective registration statement. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About The New Home Company New Home is a new generation homebuilder focused on the design, construction and sale of innovative and consumer-driven homes in major metropolitan areas within select growth markets in California , including coastal Southern California , the San Francisco Bay area and metro Sacramento . Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, forward-looking statements may be identified by the use of words such as “may,” “will,” “should,” “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “outlook” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of solely historical matters. These forward-looking statements include any statements regarding the Company’s strategic and operational plans. You should not place undue reliance on these statements because they are subject to numerous uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements are based on information available at the time those statements are made and/or management’s reasonable belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. The Company does not intend, and disclaims any obligation, to publicly update or revise any forward-looking statements after the date hereof to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes, except as required by federal securities laws. These and other factors that could cause the Company’s future results to differ materially from any forward-looking statements are discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections and elsewhere in the Company’s registration statement relating to this offering. The New Home Company, Inc. Investor Relations: 949-382-7838 investorrelations@thenewhomecompany.com Source: The New Home Company, Inc.


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