IRVINE, Calif., Oct. 2, 2015 /PRNewswire/ -- Standard Pacific Corp. and The Ryland Group, Inc., two of the nation's premier homebuilders, announced the closing of their merger of equals transaction to create a single company, CalAtlantic Group, Inc. (NYSE: CAA) on October 1, 2015.
As a result of the merger, each $1,000 principal amount of The Ryland Group, Inc.'s 1.625% Convertible Senior Notes due 2018 is now convertible into 31.8130 shares of CalAtlantic Group, Inc. common stock., and each $1,000 principal amount of The Ryland Group, Inc.'s 0.25% Convertible Senior Notes due 2019 is now convertible into 13.5853 shares of CalAtlantic Group, Inc. common stock.
About CalAtlantic Group, Inc.
CalAtlantic Group, Inc. (NYSE: CAA), a combination of Standard Pacific Corp. and Ryland Group, Inc., two of the nation's largest and most respected homebuilders, offers well-crafted homes in thoughtfully designed communities that meet the desires of customers across the homebuilding spectrum, from entry level to luxury, in 41 Metropolitan Statistical Areas spanning 17 states. With a trusted reputation for quality craftsmanship, an outstanding customer experience and exceptional architectural design earned over its 50 year history, CalAtlantic Group, Inc. utilizes its over five decades of land acquisition, development and homebuilding expertise to acquire and build desirable communities in locations that meet the high expectations of the company's homebuyers. We invite you to learn more about us by visiting www.calatlantichomes.com.
Contact: Jeff McCall, EVP & CFO (949) 789-1655, jeff.mccall@calatl.com
Media Contact:
Danielle Tocco
CalAtlantic Group, Inc.
National Director of Communications
danielle.tocco@calatl.com
Direct Line: 949.789.1633
Cell: 714.296.0451
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SOURCE CalAtlantic Group, Inc.