FPH Overview

Dramatic Start to 2026: The year has begun with significant tensions, likened to a transition from conflict to peace efforts.

Greenland's Political Situation: Greenland was on the verge of becoming the seventh state of New England, highlighting its unique geopolitical status.

Earnings Growth: Five Point Holdings, LLC reported a profit of $21.07 million, or $0.28 per share, for the third quarter, a significant increase from $4.76 million, or $0.07 per share, in the same period last year.

Revenue Decline: The company's revenue decreased by 20.7% to $13.49 million, down from $17.01 million in the previous year.

Tender Offer Announcement: Five Point Holdings, LLC announced a cash tender offer that commenced on September 15, 2025, to purchase all outstanding 10.500% Initial Rate Senior Notes due 2028, which expired on September 19, 2025, with valid tenders amounting to approximately $471.5 million, or 90.07% of the principal amount.

Future Plans and Financing: The Offerors plan to use proceeds from a new issuance of $450 million in 8.000% Senior Notes due 2030, along with cash on hand, to fund the purchase of the tendered Notes, and intend to redeem any remaining outstanding Notes by November 15, 2025.

Tender Offer Announcement: Five Point Holdings, LLC has announced a cash tender offer to purchase all outstanding 10.500% Initial Rate Senior Notes due 2028, with a purchase price of $1,008.57 per $1,000 principal amount, set to expire on September 19, 2025.

Conditions and Procedures: The offer is not conditioned on a minimum amount of notes being tendered, and holders must validly tender their notes before the expiration time to receive payment. The company plans to use proceeds from a senior notes offering and cash on hand to fund the purchase.