United Homes Group (UHG) said Friday it priced a secondary offering of about 7.4 million class A common shares at $5 per share.

Of the offered shares, about 1.4 million shares are being purchased by executives and affiliates, with the remaining shares allocated to institutional investors.

The underwriter will have a 30-day option to purchase up to about 1.1 million additional class A common shares.

The company said it is not selling any shares in the offering and will not receive any proceeds from it.

The offering is set to close Dec. 11.