Meritage Homes Corporation, a leading U.S. homebuilder, announced that it has priced a registered public offering of 2,300,000 shares of its common stock at $34.75 per share, for net proceeds of approximately $75.7 million after underwriting discounts and estimated offering expenses. The offering was upsized from the original 2,000,000 shares.

As part of the offering, the company granted the underwriters a 30-day option to purchase up to 345,000 additional shares, which, if exercised in full, would result in combined net proceeds of approximately $87.1 million. The offering is expected to close on July 13, 2012, subject to customary closing conditions. The company plans to use the proceeds received from the offering for working capital and other general corporate purposes.

Citigroup, JP Morgan and Deutsche Bank Securities acted as joint book-running managers for the offering. BofA Merrill Lynch acted as co-manager for the offering.

For more information on Meritage Homes, visit their website