Stockholders' Equity (Notes)

12 Months Ended

Sep. 30, 2019

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Stockholders' Equity

The Company has an effective shelf registration statement filed with the Securities and Exchange Commission (SEC) on September 24, 2018, which became effective on October 4, 2018, registering $500 million of equity securities.

On September 30, 2019, the Company issued 6.0 million shares of its common stock for $17.50 per share in a public underwritten offering. Net proceeds from this offering after deducting underwriting discounts and commissions and other expenses were $100.7 million. As a result of the issuance, D.R. Horton's ownership of the Company's outstanding common shares decreased from 75% to approximately 66%. Following the offering, $394.3 million remains available for issuance under the shelf registration statement.