Dream Finders Homes, Inc. (DFH)

They are one of the nation’s fastest growing private homebuilders by revenue and home closings since 2014. They design, build and sell homes in high growth markets, including Jacksonville, Orlando, Denver, the Washington D.C. metropolitan area and Austin, and, with the acquisition of H&H Homes in October 2020, Charlotte and Raleigh. They employ an asset-light lot acquisition strategy with a focus on the design, construction and sale of single-family entry-level, first-time move-up and second-time move-up homes. To fully serve their homebuyer customers and capture ancillary business opportunities, they also offer title insurance and mortgage banking solutions. Their asset-light lot acquisition strategy enables them to generally purchase land in a “just-in-time” manner with reduced up-front capital commitments, which in turn has increased their inventory turnover rate, enhanced their strong returns on equity and contributed to their impressive growth. In addition, they believe their asset-light model reduces their balance sheet risk relative to other homebuilders that own a higher percentage of their land supply. As of September 30, 2020, 99% of their owned and controlled lots were controlled through finished lot option contracts and land bank option contracts compared to the average among the public company homebuilders of 46%.

Industry
Operative Builders

CEO	CFO
Patrick O. Zalupski	Rick A. Moyer

Patrick O. Zalupski—President, Chief Executive Officer and Chairman of the Board of Directors. Patrick O. Zalupski has served as our President, Chief Executive Officer and Chairman of our board of directors since our formation in September 2020 and will continue to serve in these roles upon the listing of our Class A common stock. Mr. Zalupski has served as the Chief Executive Officer of our primary operating subsidiary, DF Homes LLC, since forming the company in December 2008, and as the Chief Executive Officer and a member of the board of managers of DFH LLC since its formation in 2014. He is responsible for our overall operations and management and is heavily involved in the origination, underwriting and structuring of all investment activities. Under Mr. Zalupski’s leadership, we have grown from closing 27 homes in Jacksonville, Florida during our inaugural year in 2009 to establishing operations in markets across the State of Texas and the Southeast, Mid-Atlantic and Mountain Regions of the United States and closing over 10,400 homes since our inception. Prior to founding DF Homes LLC, Mr. Zalupski was a Financial Auditor for FedEx Corporation’s Internal Audit Department in Memphis, Tennessee and worked in the real estate sales and construction industry as Managing Partner of Bay Street Condominiums, LLC from 2006 to 2008. He has served on the investment committee of DF Capital since April 2018 and on the board of directors for Jet LLC since December 2017. Mr. Zalupski holds an inactive Florida Real Estate License and received a B.A. in Finance from Stetson University. We believe that Mr. Zalupski’s financial acumen, extensive industry experience and demonstrated leadership capabilities throughout our growth as a company make him highly qualified to continue to serve as Chairman of our board of directors and our President and Chief Executive Officer.

Rick A. Moyer—Senior Vice President and Chief Financial Officer. Rick A. Moyer has served as our Senior Vice President and Chief Financial Officer since our formation in September 2020 and as the Chief Financial Officer of DFH LLC since June 2017. Mr. Moyer oversees all accounting, finance and treasury functions, including capital planning, forecasting and budgeting, and holds ultimate review and approval authority over the financial statements. Mr. Moyer joined Dream Finders after serving as the Managing Partner of PricewaterhouseCoopers LLP (“PwC”), a global provider of assurance, tax and consulting services, in Jacksonville, Florida from 2012 to 2017, where he worked with companies across various industry verticals, including banking, technology, sports & leisure, real estate and health insurance. Mr. Moyer joined PwC in 2000, working in the audit and consulting practices. During his tenure at PwC, Mr. Moyer spent time in the firm’s national office, specializing in PCAOB and SEC Compliance, Derivatives and Securitizations, and, from 2007 to 2011, he co-founded and led the PwC Banking Mergers and Acquisitions practice, which specialized in assisting clients acquire banks from the Federal Deposit Insurance Corporation. Mr. Moyer has previously served on the board of directors for the Jacksonville Museum of Science and History, the Jacksonville Symphony and The Florida Institute of CPAs. He is a Certified Public Accountant and member of the American Institute of Certified Public Accountants. Mr. Moyer received a Bachelor of Science in Business Administration (B.S.B.A.) in Accounting from Shippensburg University of Pennsylvania.

Employees	Founded
354	2008

Address: 14701 Philips Highway, Suite 300, Jacksonville, Florida 32256, US

Telephone: (904) 644-7670.

Web page: http://www.dreamfindershomes.com

Expected Date	1/21/2021
Status	Priced
Exchange	NASDAQ
Lockup Period Expiration	.Pro
Quiet Period Expiration	.Pro
Old Price Range	-

Share prices ($)

What do you think will happen with the DFH share price after the next 3-6 months? 🔥 (+ 10% or more, flat (+ -10%), -10% or less)

The lead left underwriter: BofA Securities

Over the last 12 months Since the beginning of the year

IPOs led by the firm	.Pro
Profitability of conducted IPOs  ?	.Pro
1st day change  ?	.Pro
Change for the first 3 months  ?	.Pro

IPOs led by the firm	.Pro
Profitability of conducted IPOs  ?	.Pro
1st day change  ?	.Pro
Change for the first 3 months  ?	.Pro

Underwriters
BofA Securities/ RBC Capital/ BTIG
CO-Managers
Builder Advisor Group/ Zelman Partners/ TCB Capital Markets/ Wedbush Securities