M/I Homes to redeem some 9¾% series A preferreds via offerings

By Tali David

Minneapolis, March 5 - M/I Homes, Inc. plans to redeem a portion of its outstanding 9¾% series A preferred shares with the proceeds of its convertible notes and common stock offerings, according to a press release.

The company will use the balance of the proceeds for general corporate purposes, which may include acquisitions of land, land development, home construction and the repayment of debt or dividends or further redemptions of its 9¾% series A preferred shares.

M/I Homes is a Columbus, Ohio-based builder of single-family homes.

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