Meritage Homes CORP — Capital/Financing Update 2017

Aug 7, 2017

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

_____

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): August 4, 2017

_____

MERITAGE HOMES CORPORATION

(Exact Name of Registrant as Specified in Charter)

Maryland	1-9977	86-0611231
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
8800 E. Raintree Drive, Suite 300, Scottsdale, Arizona 85260
(Address of Principal Executive Offices) (Zip Code)
(480) 515-8100
(Registrant’s telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities and Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13 (a) of the Exchange Act. o

Item 8.01 Other Events

Meritage Homes Corporation ("the Company") issued a notice of redemption to the holders of its outstanding 1.875% Convertible Senior Notes due 2032 (the “Convertible Notes”) on August 4, 2017, pursuant to which it will redeem the Convertible Notes for cash, at a price of 100% of the principal amount of the Convertible Notes, plus accrued and unpaid interest ("the Redemption"), on September 20, 2017, unless earlier repurchased or converted. As of June 30, 2017, there was $74.6 million aggregate principal amount of the Convertible Notes outstanding. Prior to the consummation of the Redemption, the holders of the Convertible Notes are entitled to require the Company to repurchase their notes at a price of 100% of the outstanding principal amount of the Convertible Notes, plus accrued and unpaid interest, on September 15, 2017. The conversion rate for the 2032 Notes is 17.1985 shares of the Company’s common stock per $1,000 principal amount of the Convertible Notes, an initial conversion price of $58.14 per share.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 7, 2017

MERITAGE HOMES CORPORATION
/s/	Hilla Sferruzza
By:	Hilla Sferruzza
	Executive Vice President and Chief Financial Officer (Principal Accounting Officer)