One investor was Maximillian Lawrence, an artist and a high school teacher in Philadelphia. 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. 3.Additional Agreement.Antara Capital LP ("Antara") agrees in connection with the Share Repurchase Commitment contemplated by paragraph 1, upon receipt of a written request from David T. Hamamoto ("Mr. Hamamoto"), to make a loan to Mr. Hamamoto in an amount up to $2,500,000 pursuant to a five year unsecured promissory note, which shall bear interest of 8% per annum from the date such . Hamamoto left the new company, Colony NorthStar, in November 2017. David T. Hamamoto. By the time Goldman took Lordstown to him, Mr. Hamamotos team had lost out on several other opportunities, a person familiar with the matter said. DiamondHead Holdings Corp. 19 Jan 23. (3) Pro -forma shares outstanding does not include the impact from the existing public or private warrants, the sponsor earnout shares, the UHG earnout shares, or the UHG equity incentive plan. The company also shared additional information about itself with DiamondPeak. Sign in to view structure, cap table, and calendar of events. David Hamamoto. For context, the second . But Mr. Hamamoto didnt focus much on assessing the work experience of Lordstowns management team, including Mr. Burns, who would continue to run the company after the SPAC merger, two people familiar with the matter said. Additionally, it plans to focus on businesses with enterprise values between$350million and $2 billion. 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. He is joined by CFO and DirectorKeith Feldman, formerCFO of NorthStar Realty Europe (NYSE: NRE) and Managing Director of Colony Capital. Want to see what other hedge funds are holding DHHC? He was eager to do a deal. 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. Mr. Hamamotos scrutiny of Lordstowns business was most likely far less than the inspection that a company undergoes in a conventional initial public offering. Goldman Sachs is the sole bookrunner on the deal. This offering is expected to close on Thursday, January 28. Ray ID: 7a2d9d928d2fd229 Looking for David Hamamoto online? David T. Hamamoto. MarketBeat.com's FREE daily email newsletter, Kroger Shares Gap Up on Better-Than-Expected Earnings. In 2017, NorthStar merged with Colony Capital, a firm run by Mr. Trumps longtime ally Thomas J. Barrack Jr., to create a company with $58 billion in assets. Mr. Burns and another top executive at Lordstown resigned after its board investigated the companys statements about truck orders. 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 . (800) 464-2924. 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. Wolverine Asset Management LLC now owns 359,579 shares of the companys stock worth $3,541,000 after buying an additional 213,819 shares during the last quarter. Recent insider trades. Hawaiians call it Lahi (brow of the tuna) in reference to the formation's ridgeline, which resembles the tuna fish's dorsal fin. Get your FREE TRIAL now. 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. 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. 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. Steve Burns, the founder of Lordstown Motors, at its plant in Ohio last year. Small investors began piling into Lordstown shares after the merger closed, attracted to the hype around electric vehicles. 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 presently is Chairman for Northstar Europe SA, Chairman at Ns Real . DiamondHead Holdings, CEO and Chairman 250 Park Avenue, New York, NY, 212-572-6260 . The company has burned through hundreds of millions of dollars in cash. Gates Capital Management Reduces Risk . Some small investors continued to buy even as Lordstown unraveled. David Hamamoto is the CEO and Chairman of SPAC firm Diamondhead Holdings and. David's ethnicity is Asian American, whose . He became one of Goldmans youngest partners before striking out on his own in 1997. Create your Watchlist to save your favorite quotes on Nasdaq.com. OTA Financial Group L.P. purchased a new stake in DiamondHead in the third quarter worth $235,000. Marcum LLP serves as auditor. DiamondHead Holdings, CEO and Chairman 250 Park Avenue, New York, NY, 212-572-6260 . Good technology isnt enough, Mr. Gordon said. The company was incorporated in 2020 and is based in New York, New York. Investors are suing, including 70-year-old George Troicky, who lost $864,201 on his investment, according to a pending class-action lawsuit. The fund owned 147,501 shares of the companys stock after buying an additional 37,626 shares during the quarter. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. Don't risk buying another IPO without IPO Pro. Mr. Karacic, who hasnt broken even, said he harbored no ill will toward the early investors. Occidental Petroleum Pulls Back To The Sweet Spot. Our management team is led by our Chief Executive Officer and Chairman, David Hamamoto, and our Chief Financial Officer, Keith Feldman. Thats exactly when BlackRock and other early Wall Street investors as well as top company executives, who all got their shares cheaply before the merger began to sell some of their holdings. Shares of NASDAQ DHHC opened at $10.14 on Wednesday. we can see that the largest shareholder is the CEO David Hamamoto with 20% of shares outstanding. DIAMONDHEAD HOLDINGS CORP. (Exact name of registrant as specified in its charter) Delaware: 001-39936: 85-3460766 (State or other jurisdiction of (Commission File Number) (I.R.S. 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 . SPAC DiamondHead Holdings prices $300 million IPO; David Hamamoto follows up RIDE deal, Renaissance International ETF (symbol: IPOS), Do Not Sell My Personal Information (CA Residents Only). He began selling his stock after the companys bullish predictions didnt come to fruition and walked away with about $4,000 in profits. 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. Wolverine Asset Management LLC increased its position in DiamondHead by 146.7% in the third quarter. 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 . At the proposed deal size, DiamondHead Holdings would command a market value of $375 million. 4. Mr. David Hamamoto serves as Chairman and Chief Executive Officer of Diamond Head Partners, LLC which he established in 2017. Cloudflare is currently unable to resolve your requested domain. Team. The 15 highest-paid corporate chiefs in America took home a whopping $1.1 billion last year -- about $70 million apiece on average. With Lordstown shares trading around $18 in November, George Troicky, a self-employed investor from Cleveland, dived in, and he continued to buy over the next few months. The company's principal address is 4 Gatehall Dive . The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Previously, David was a Chairman at SPAXEL and also held positions at Colony Capital, Nsam, Goldman Sachs. Insider Sales DHHC / DiamondHead Holdings Corp. Class A - Short . Purchases New Holdings in Ball Co. (NYSE:BALL), Blueshift Asset Management LLC Sells 21,016 Shares of Dell Technologies Inc. (NYSE:DELL), Cary Street Partners Investment Advisory LLC Has $126,000 Stock Holdings in Yum China Holdings, Inc. (NYSE:YUMC). Founder of Diamond Head Partners LLC New York, New York . Mizuho Markets Americas LLC purchased a new stake in DiamondHead in the third quarter worth $10,704,000. The company is led by CEO and ChairmanDavid Hamamoto, founder ofDiamond Head Partners and formerExecutive Vice Chairman of Colony Capital. David Hamamoto, Chairman and 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.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. 74.00% of the stock is currently owned by institutional investors. 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.. Mr. Hamamoto is a citizen of the United States of . It happens all the time, everywhere, he said. . Chairman & Co -CEO DiamondHeadPartners. In early August, news of the merger of DiamondPeak and Lordstown drove shares of the SPAC up 20 percent. I am excited for the next chapter for GSH, where through the combination of my operational expertise with David Hamamotos public company and capital markets experience, we plan to grow UHG into a national homebuilder. David T Hamamoto is Lead Director at Lordstown Motors Corp. See David T Hamamoto's compensation, career history, education, & memberships. Track SPACs on IPO Pro. Form S-4/A (registration of securities, business combinations) filed with the SEC For purposes of the minimum cash condition, cash includes cash in the DiamondHead trust account after giving effect to redemptions (including the $25 million commitment to purchase and not redeem DHHC public shares from the DHHC sponsor group, including David Hamamoto and Antara Capital) and any other permitted financings obtained in connection with the completion of the transaction. Additionally, it plans to focus on businesses with enterprise values between $350 million and $2 billion. BlackRock, which originally owned a little more than 2 percent of the combined company, reported owning about 1 percent in March. We look forward to supporting the companys growth trajectory and future M&A plans.. 2023 Renaissance Capital LLC. At the same time, some early Wall Street investors and senior Lordstown executives used the opportunity to sell their stock. HAMAMOTO DAVID T Director: 12,328: $0: 4,241,463 (Direct) View: 2021-01-25 Ownership: 2021-01-25 8:52 pm: N/A N/A: DiamondHead Holdings Corp. DHHC: HAMAMOTO DAVID T DHP SPAC-II Sponsor LLC CEO Chairman: 0: $0: 8,625,000 (Indirect) View: 2020-10-22 Exercise: 2020-10-26 8:33 pm: N/A N/A: Lordstown Motors Corp. RIDE: HAMAMOTO DAVID T Director . Wed be lying to ourselves if we thought this was a fair market., Behind the Lordstown Debacle, the Hand of a Wall Street Dealmaker, https://www.nytimes.com/2021/07/13/business/lordstown-motors-dealmaker.html. 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. The sponsor of DiamondHead is DHP SPAC-II Sponsor LLC, an entity controlled by David Hamamoto. 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. 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.. 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 clock was ticking for David Hamamoto. Erik Gordon, a business professor at the University of Michigan, said Mr. Hamamoto had an obligation to check into all aspects of Lordstown before signing the deal, including Mr. Burnss abilities to run a large public company. Renaissance Capital LLC is an SEC-registered investment adviser. DiamondHead Holdings Corp. 25 Jan 21. 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 . Latest SPAC Liquidations: VPC Impact Acquisition Holdings II VPC Impact Acquisition Holdings II(VPCB) to Liquidate on March 9 VPC Impact Acquisition Holdings II (NASDAQ: VPCB) today announced that it will redeem all of its outstanding Class A ordinary shares on March 21. DiamondHead Holdings Corp.(DHHCU) A special committee of Lordstowns board reviewed the stock sales and said it had found nothing improper. A lawyer declined to comment on his behalf, citing the suit. Know which insiders are buying and selling along with top shareholders and ownership breakdown. Copyright 2023 Surperformance. 4. Insider . DiamondHead Holdings Corp. ("DiamondHead") (NASDAQ: DHHC) is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. Even Tesla, the industrys breakout star, didnt deliver its first car until 2008 five years after it was founded. He had raised $250 million from big Wall Street investors including BlackRock, and spent more than a year looking at over 100 potential targets. Additionally, it plans to focus on businesses with enterprise values between $350 million and $2 billion. Chaos ensued. BTIG, LLC is acting as exclusive sell-side advisor to GSH. Small investors, who have become active players in the stock market in recent years, were among those driving up the price. . David Hamamoto General Information. The transaction is expected to close during the first quarter of 2023. In late September, Mr. Burns showed off a prototype of the Endurance truck at the White House an unveiling attended by Mr. Trump. David Hamamoto lives in New York, NY; previous cities include Honolulu HI and Park City UT. 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 . 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 . David Hamamoto is a Chairman Chairman's Search Committee at Lordstown Motors based in Lordstown, Ohio. 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. DiamondHead Holdings Corp. has a fifty-two week low of $9.74 and a fifty-two week high of $10.99. Cookies collect anonymous information, but not personally identifiable information. I (PLMI) to Combine with Sakuu in $705M Deal. The founder has bought 1.25 million shares above the SPAC merger price and ahead of the completed merger. Mr. David T. Hamamoto II is Chairman at DiamondHead Holdings Corp since October 7, 2020 and served as its Chief Executive Officer since October 7, 2020 until August 02, 2022. incorporation) 250 Park Ave, 7th Floor. Verition Fund Management LLC's holdings in DiamondHead were worth $1,456,000 as of [] . General Motors sold the plant to Mr. Burns in November 2019 for $20 million, prompting Mr. Trumps praise for the Lordstown founder. DiamondHead Holdings plans to list on the Nasdaq under the symbol DHHCU.