Legacy Housing Corporation (NASDAQ: LEGH) was founded in May 2005 and was named Legacy Housing, Ltd. at the time. On January 1, 2018, the company changed from a Texas company to a Delaware company and its name was changed Legacy Housing Corporation, headquartered in Bedford, Texas, with 800 full-time employees (9/30/2018), is the fourth largest manufacturer of manufactured homes in the United States and a recognized leader and innovator in the manufacturing housing industry.
Legacy Housing Corporation (LEGH):
Legacy Housing Corporation’s current business is mainly concentrated in the southwest and southeast of the United States. Legacy provides a series of products to help provide quality housing. According to the information provided by the Institute of Manufacturing Houses and the Institute of Building Technology and Safety in the second quarter of 2018, the company is the fourth largest producer of manufactured houses in the United States.
Legacy Housing Corporation distributes manufactured houses and “modular small houses” through a network of independent retailers and company-owned stores, and also sells them directly to manufacturing houses family communities. The company’s current business is mainly focused on providing customers with a series of high-quality residences, ranging from approximately 390 to 2,667 square feet, including 1 to 5 bedrooms and 1 to 3 half-bathroom manufacturing houses.
The retail price of Legacy Housing Corporation’s manufactured houses ranges from approximately US$22,000 to US$95,000. In 2017, the company sold 3,274 manufactured houses (entire modules or single floors). In the first nine months of 2018, the company has sold 3,045 residential houses.
Legacy Housing has been operating since 2005 and has experienced strong sales growth, achieving a compound annual growth rate (CAGR) of 25% from 2009 to 2017.
Legacy Housing Corporation (LEGH) investment:
Legacy Housing Corporation (NASDAQ: LEGH) submitted its IPO prospectus on 11/9/2018, and plans to IPO on NASDAQ on 12/14/2018. The issue price is US$10.75-12.75, 3.5 million shares are issued, and the fundraising does not exceed US$51,318,750.00 USD, underwritten by B. Riley FBR/ Oak Ridge Financial.