What followed was a swift merger, then a debacle that put two of the biggest forces shaping the financial world on a collision course. The Company builds homes in South Carolina and Georgia, focusing on the entry level and first time move up home buyer segments. Ray ID: 7a2d9d928d2fd229 The new company aims to have a broad search focus but intends to identify and acquire a business that could benefit from a hands-on partner with extensive operational, capital markets and investment management experience. Diamondhead's CEO/Chairman Buys Another 250K Shares Before M 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. The stock has a fifty day moving average of $10.09 and a 200-day moving average of $9.98. Type a symbol or company name. New York, New York. 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 . 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. 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. 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. . DiamondHead Holdings, CEO and Chairman 250 Park Avenue, New York, NY, 212-572-6260 . David Hamamoto. Now Lordstown is flailing. 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. Sign in to view structure, cap table, and calendar of events. Person, a natural person, is the Chairman and Co-Chief Executive Officer of the Issuer, and the managing member of Diamond Head Partners LLC. David T Hamamoto Net Worth (2023) - GuruFocus.com Form S-4/A (registration of securities, business combinations) filed with the SEC He had raised $250 million from big Wall Street investors including BlackRock, and spent more than a year looking at over 100 potential targets. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Additionally, it plans to focus on businesses with enterprise values between $350 million and $2 billion. Important Disclosures
Get your FREE TRIAL now. 2023 Renaissance Capital LLC. In a statement, he said: During our diligence prior to entering into our business combination, it was clear that we have the technology and the assets to develop the first and best full-size all-electric pickup truck. He added that the board, management and the entire team are focused on making Lordstown Motors a success as we transition to the commercial stage of our business.. Regulators are investigating whether its founder, Steve Burns, who resigned as chief executive in June, overstated claims about truck orders. I figured G.M. The transaction will also require the consent of GSHs lenders and the approval of DHHC stockholders, and is subject to customary closing conditions. You can see DiamondHead Holdings' historic earnings and revenue below, but keep in mind there's always more to the story. 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's CEO David Hamamoto is the largest shareholder with 20% of shares outstanding. First Look: The SPAC Deal That Will Take Electric-Pickup Start-Up 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. 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. In February, Lordstowns president and its former finance chief were among those who sold about $8 million in stock. BlackRock, which originally owned a little more than 2 percent of the combined company, reported owning about 1 percent in March. Written by James Wei's company, Puuwai Estate LLC, owns 3133 Diamond Head Road and Peter Tomozawa's (correct spelling) wife, Donna Leduc . A lawyer declined to comment on his behalf, citing the suit. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. CEO Purchases DiamondHead Shares. United Homes Group - Announcement Will Q4 Results Send Zoom Video Stock Higher? MERGER IMAGE: David Hamamoto & Mike Satterfield DATE: 09/12/2022 COMPANIES: Great Southern Homes, Inc & DiamondHead Holdings Corp VALUATION: $572,000,000 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. Important Disclosures
Then, around nine months before his deadline, bankers from Goldman gave Mr. Hamamoto an enticing pitch: Lordstown Motors, the fledgling electric truck maker that President Donald J. Trump had hailed as a savior of jobs. Team. Steve Burns, the founder of Lordstown Motors, at its plant in Ohio last year. Name Age Title; David T. Hamamoto 61: Chairman and Co-CEO: Keith Feldman 44: CFO: Judith A. Hannaway 67: Director: He is joined by CFO and DirectorKeith Feldman, formerCFO of NorthStar Realty Europe (NYSE: NRE) and Managing Director of Colony Capital. David Hamamoto in 2007. This offering is expected to close on Thursday, January 28. For context, the second . SC 13G. As Docs:Size Issuer Filing Agent 11/18/22 DiamondHead Holdings Corp. PRE 14A 11/18/22 1:1.3M Toppan Merrill/FA Preliminary Proxy Statement Schedule 14A Filing Table of Contents 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 . All rights reserved. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. www.sec.gov Lordstown Motors Corp. 23 May 22. 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. DiamondHead Holdings was founded in 2020 and plans to list on the Nasdaq under the symbol DHHCU. He is also a director and chairman of the nominating and corporate governance committee of Lordstown. Mr. Burns did not respond to requests for comment. 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 . Many look for medium term catalysts that will drive the share price higher. David W Hamamoto, David Amatoto, David H Hamamoto, David Marty Hamamoto and David T Hamamoto are some of the alias or nicknames that David has used. The Board of Directors of GSH and DHHC have approved the transaction. A longtime real estate investor and former Goldman Sachs executive decided to take an electric truck company public. When you visit our website, we, may automatically collect information from you such as your Internet Protocol (IP) address, location, device and connection information such as browser type and version, plug-in types and versions, and operating system. David Hamamoto: Individual: 250,000: US$10.09: 12 Jan 23: Buy US$10,090,000: David Hamamoto: Individual: 1,000,000: US$10.09: Insider Trading Volume. Sujan Patel | TRD Research - The Real Deal 2023 Renaissance Capital LLC. Know which insiders are buying and selling along with top shareholders and ownership breakdown. 9. David T. Hamamoto - 15 top-paid CEOs - CNNMoney 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. 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 . which had by then invested $75 million in Lordstown and viewed it as a long-term holding in his portfolio. Mr. Lawrence, the artist, isnt so sure. In early 2019, he launched his SPAC, DiamondPeak, with the intention of merging with a real estate business. Mr. Hamamoto, 61, has owned or operated splashy hotels, office buildings and nursing homes, eventually teaming up with others to build a real estate investment firm, NorthStar Investment. 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. The following positions have been held: Director; 2021 at Lordstown Motors Corp. Director; Officer; CEO, Chairman 2021 at DiamondHead Holdings Corp.; Director; Officer; Executive Vice Chairman 2017 at Colony NorthStar, Inc.; Insider 2017 at NorthStar Asset Management . 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. DiamondHead is co-sponsored by Antara Capital, which is an event-driven hedge fund founded by Himanshu Gulati in 2018 that invests across a wide variety of financial instruments, including loans, bonds, convertible bonds, stressed/distressed credit and special situation equity investments. A special committee of Lordstowns board reviewed the stock sales and said it had found nothing improper. Lordstown Motors Corp. 26 Oct 20. David Hamamoto lives in New York, NY; previous cities include Honolulu HI and Park City UT. We have Tom O'Grady, at GSH and Future UHG board member and future UHG Chief Administrative Officer; Shelton Twine, GSH and future UHG Chief Operating Officer; and Keith Feldman, Chief Financial Officer of . By contrast, SPAC mergers give companies that would find it challenging to go public on their own an easier path to the public markets. Each unit consists of one share of . The sponsor of DiamondHead is DHP SPAC-II Sponsor LLC, an entity controlled by David Hamamoto. DiamondHead Holdings Corp. does not have significant operations. The company was incorporated in 2020 and is based in New York, New York. The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Hamamoto left the new company, Colony NorthStar, in November 2017. DiamondHead Holdings Corp. - United Homes Group, Inc. (UHG) Investor DiamondHead Holdings plans to list on the Nasdaq under the symbol DHHCU. At the proposed deal size, DiamondHead Holdings would command a market value of $375 million. David T. Hamamoto - Biography - MarketScreener.com 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. 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. T David Hamamoto, Co-Ceo, Chairman, 2023-01-19; It happens all the time, everywhere, he said. Receive News & Ratings for DiamondHead Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondHead and related companies with MarketBeat.com's FREE daily email newsletter. 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 . DiamondHead Holdings Corp. | SPAC Research This information is used to improve our services. Occidental Petroleum Pulls Back To The Sweet Spot. Type a symbol or company name. Mr. Hamamotos scrutiny of Lordstowns business was most likely far less than the inspection that a company undergoes in a conventional initial public offering. DiamondHead Holdings plans to list on the Nasdaq under the symbol DHHCU. All rights reserved. His special purpose acquisition company, DiamondPeak Holdings, merged with Lordstown Motors. Some small investors continued to buy even as Lordstown unraveled. Previously, he served as Executive Vice Chairman of Colony NorthStar (now Colony Capital . At the same time, some early Wall Street investors and senior Lordstown executives used the opportunity to sell their stock. Upon closing of the merger, GSH will become a publicly traded company, and DiamondHead (NASDAQ: DHHC) [] 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. Jan 26, 2021 08:23AM EST. The obligation of GSH to complete the transaction is subject to a minimum cash condition of $125 million. 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. David's ethnicity is Asian American, whose . David received a B. S. degree from Stanford University and a M. B. At Workhorse, he often touted the viability of a personal hybrid-electric helicopter called Surefly a vehicle that had never proved commercially viable. Nelson Mullins Riley & Scarborough LLP is acting as counsel to GSH. Upon closing of the transaction, GSH will become a publicly traded company, and DiamondHead Holdings Corp. will be renamed United Homes Group, Inc. DiamondHead is expected to remain listed on the Nasdaq Capital Market and is expected to trade under the new ticker symbol UHG.. SPAC DiamondHead Holdings prices $300 million IPO; David Hamamoto Sign in for more on DiamondHead Holdings Corp.: Structure and cap table; 6 directors & officers; 19 filings and events; 1 underwriters; 2 deal advisors; . David Hamamoto. David T Hamamoto, 62 - New York, NY - Has Court or Arrest Records - MyLife David Hamamoto General Information. Chairman & Co -CEO DiamondHeadPartners. Should You Take a Cruise in Royal Caribbean Stock? Lordstown also operated in an industry with one of the lowest rates of success; few start-ups have succeeded at mass producing electric vehicles. Millennium Management, a hedge fund firm, and Fidelity, a mutual fund company, also reduced their stakes, filings show. Insider Sales DHHC / DiamondHead Holdings Corp. Class A - Short . Even Tesla, the industrys breakout star, didnt deliver its first car until 2008 five years after it was founded. Diamondhead Holdings Corp. (DHHC) latest news, insider trading and hedge fund ownership data provided by Insider Monkey. 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. DiamondHead Holdings Corp. (DHHCU) Prices $300M IPO 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. What Kind Of Shareholders Hold The Majority In DiamondHead - Yahoo! Neither Mr. Hamamoto nor his representatives talked to executives at Workhorse about Mr. Burnss stewardship or what had motivated him to suddenly resign and later pursue the factory in Ohio, a person briefed on the merger process said. SEC Info - Hamamoto David T - 'SC 13D' on 2/6/23 re: DiamondHead Great Southern Homes and DiamondHead Holdings To Merge David T Hamamoto, Lordstown Motors Corp: Profile and Biography Joe Lukens, a high school friend of Mr. Burnss who owns more than 400,000 shares in Lordstown, said he remained a big believer in Mr. Burnss initial vision. Find Instagram, Twitter, Facebook and TikTok profiles, images and more on IDCrawl - free people search website. Finally, Bank of Montreal Can increased its position in DiamondHead by 14.8% in the third quarter. In addition, as Michael mentioned, we believe there are extremely compelling opportunities to generate accretive growth through M&A as well as a programmatic build-to-rent platform., Himanshu Gulati, Founder and CIO of Antara Capital, says, We are excited to partner with Michael and David on this opportunity. I was willing to overlook a lot of things because of the affiliation with G.M. Goldman Sachs acted as lead manager on the deal. In March, Djordje Karacic, a 23-year-old information technology worker in Koper, Slovenia, bought the stock after learning that it had licensed technology from Elaphe Propulsion Technologies, a Slovenian firm. DiamondHead Holdings Corp. - DHHC / DiamondHead Holdings Corp. Class A / HAMAMOTO DAVID T - SC 13D Activist Investment - SC 13D - February 06, 2023 . Chaos ensued. The clock was ticking for David Hamamoto. The company is led by CEO and ChairmanDavid Hamamoto, founder ofDiamond Head Partners and formerExecutive Vice Chairman of Colony Capital. BTIG, LLC is acting as exclusive sell-side advisor to GSH. 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. Its stock price has plunged to $9, from around $31. 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. 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. Hamamoto's previous SPAC, DiamondPeak Holdings, went public in February 2019 and completed its merger with EV pickup truck developer Lordstown Motors(RIDE; +132% from $10 offer price) in October 2020. DiamondHead Holdings Corp. 19 Jan 23. We may also collect analytic tracking information about your visits to our website. In late September, Mr. Burns showed off a prototype of the Endurance truck at the White House an unveiling attended by Mr. Trump. 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. 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. Total SPAC deal count for 2021 year-to-date is now 74 with $20.98 billion in gross proceeds raised. Renaissance Capital LLC is an SEC-registered investment adviser. MarketBeat.com's FREE daily email newsletter, Kroger Shares Gap Up on Better-Than-Expected Earnings. In the past, Martha has also been known as Martha Hamamoto David, Martha Hamamotto, Martha Meeker, Martha H Meeker and Martha H Hamamoto. The transaction is expected to close during the first quarter of 2023. The following month, SEC filings showed Hamamoto sold off large chunks of his shares at prices as high as $12 per unit, making $27 million. The transaction includes an earn-out provision pursuant to which GSH stockholders are entitled to receive up to an aggregate maximum of 20 million additional shares, over a five year period, as and when the share price of the combined company reaches certain thresholds. Additionally, it plans to focus on businesses with enterprise values between $350 million and $2 billion. David T. Hamamoto. 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. American Stock Transfer & Trust Companyis acting as trustee. The latest filing, Hamamoto disclosed the purchase of 250,000 DHHCU shares at an average price of $10.087 each per share.