On January 22, 2020, M/I Homes, Inc. completed its offering of $400 million aggregate principal amount of its 4.950% Senior Notes due 2028. The New Senior Notes were sold only to qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and certain investors pursuant to Regulation S under the Securities Act. The offering was consummated pursuant to the terms of a purchase agreement, dated as of January 7, 2020, by and among the Company, as issuer, certain subsidiaries of the Company, as guarantors (the Guarantors), and Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, as representatives of the initial purchasers of the New Senior Notes. On January 22, 2020, the Company used a portion of the net proceeds from the offering of the New Senior Notes to redeem all $300 million aggregate principal amount of its outstanding 6.75% Senior Notes due 2021 (the 2021 Senior Notes). On January 22, 2020 (the Redemption Date), in connection with the issuance of the New Senior Notes, the Company redeemed all $300 million aggregate principal amount of its outstanding 2021 Senior Notes in accordance with the terms of the indenture governing the 2021 Senior Notes at a redemption price of $1,000 per $1,000 principal amount of 2021 Senior Notes, plus accrued and unpaid interest on such principal amount of 2021 Senior Notes to, but not including, the Redemption Date (the Redemption Price"). As of the Redemption Date, the 2021 Senior Notes were no longer deemed to be outstanding, interest on the 2021 Senior Notes ceased to accrue and all rights with respect to the 2021 Senior Notes ceased, except the right to receive the Redemption Price. The Company intends to use the balance of the net proceeds to repay borrowings under its $500 million unsecured revolving credit facility (the Credit Facility) and, to the extent there are any net proceeds remaining thereafter, for general corporate purposes.