Landsea Homes Corporation has announced a significant update regarding its merger with Lido Merger Sub, Inc. As of May 29, 2025, Landsea Homes, along with certain subsidiary guarantors and U.S. Bank Trust Company, entered into a Third Supplemental Indenture to amend the existing Indenture governing the company's 8.875% Senior Notes due 2029. This amendment eliminates obligations related to a "change of control offer" in connection with the merger, most restrictive covenants, and certain events of default. The changes will become operative once the notes are accepted for purchase by Merger Sub, contingent on meeting specific conditions, including the completion of the proposed merger and a financing condition. As of the same date, Landsea Homes has received consents from holders of approximately 97.95% of the total outstanding principal amount of the notes, sufficient to approve the amendments. This development marks a crucial step forward in the merger process.