Looks like they did a pre-packaged using warrants which means they never legally declared BK. This would be why they don't show up on the BK sites:
ITEM 1. BUSINESS
GENERAL
The Company is a builder of single-family homes with domestic operations throughout the western United States, and international operations in France, Canada and Mexico. The Company is the largest home builder in the western United States and among the largest builders in greater metropolitan Paris, France. The Company builds and markets innovatively designed homes, generally in medium-sized developments close to major metropolitan areas, that cater primarily to first-time home buyers. In France, the Company is also a developer of commercial projects and high-density residential properties, such as condominium and apartment complexes. The Company also provides mortgage banking services to its domestic home buyers through its wholly owned subsidiary, Kaufman and Broad Mortgage Company ("KBMC").
The Company's business originated in 1957 and was operated through various subsidiaries of SunAmerica Inc. ("SunAmerica"), previously known as Kaufman and Broad Inc. and Broad Inc., until 1986. At that time, SunAmerica transferred to the Company all of the outstanding stock of the subsidiaries then conducting SunAmerica's on-site housing businesses as well as the stock of KBMC. The Company shortly thereafter completed an initial public offering of its common stock, after which SunAmerica continued to own approximately 92.6% of the Company's outstanding common stock. In 1989, SunAmerica distributed substantially all of its holdings in the Company's common stock pro-rata to holders of SunAmerica's common stock. Immediately prior to this distribution, a wholly owned subsidiary of SunAmerica, Sun Life Insurance Company of America ("SLICA"), acquired warrants (the "Warrants") to purchase up to 7,500,000 shares of the Company's special common stock in connection with the financing of a portion of the special cash dividend paid to holders of the common stock at the time of the distribution.
In 1992, pursuant to the exercise of certain registration rights held by SLICA, the Company registered shares of special common stock issuable upon exercise of the Warrants under the Securities Act of 1993, and subsequently issued 5,123,000 shares in connection with a public offering. At the conclusion of such offering, SLICA continued to retain the balance of Warrants to purchase 2,377,000 shares of special common stock. In November 1993, the Company commenced a tender offer to purchase all of its 5,123,000 outstanding shares of special common stock at a price of $19 per share. The offer concluded in December 1993 with a total of 2,331,785 shares tendered. Shortly thereafter, the Company purchased the remaining 2,377,000 Warrants held by SLICA, at a price equal to the tender offer price per share less the $6.96 per Warrant exercise price. As a result, SLICA no longer holds any Warrants, nor beneficially owns any shares of the Company's special common stock. The remaining 2,791,215 outstanding shares of special common stock were exchanged by the Company at a ratio of .95 shares of common stock for each share of special common stock on various dates throughout 1994. There were no outstanding shares of special common stock at November 30, 1994.
The Company is a Delaware corporation and maintains its principal executive offices at 10990 Wilshire Boulevard, Los Angeles, California 90024. Its telephone number is (310) 231-4000. As used herein, the term "Company" refers to Kaufman and Broad Home Corporation and its subsidiaries, unless the context indicates otherwise.
MARKETS
The Company's two principal geographic markets are the western United States (California, Nevada, Arizona, Colorado and Utah) and the greater metropolitan area of Paris, France. To a lesser extent, the Company builds single-family homes in Toronto, Canada. The Company delivered its first homes in California in 1963, France in 1970, Toronto in 1971, Nevada in 1993, and Arizona and Colorado in 1994. The Company expects to seek its first deliveries from its Salt Lake City, Utah and Mexico City divisions in 1995. |
