Statement of acquisition of beneficial ownership by individuals



STYLE="font: 10pt Times New Roman, Times, Serif">



















UN ITED
STATES






SECURITIES
AND EXCHANGE COMMISSION






Washington,
D.C. 20549




















SCHEDULE
13G






Under
the Securities Exchange Act of 1934*






(Amendment
No.    )






















Landsea
Homes Corporation






(Name
of Issuer)






Common
Stock, par value $0.0001 per share






(Title
of Class of Securities)










51509P103






(CUSIP
Number)












January
7, 2021






(Date
of Event which Requires Filing of this Statement)










































Check
the appropriate box to designate the rule pursuant to which this Schedule is filed:










Rule
13d-1(b)







Rule
13d-1(c)







Rule
13d-1(d)


















*The
remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect
to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures
provided in a prior cover page.








The
information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section
18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the Notes).



























































1.







Name
of reporting person








Level
Field Capital, LLC




2.







Check
the appropriate box if a member of a group (see instructions)




(a)  ☐       (b)  ☒








3.







SEC
use only








4.







Citizenship
or place of organization








Delaware




































Number of




shares




beneficially




owned by




each




reporting




person




with:







5.







Sole
voting power



0







6.







Shared
voting power





5,027,435








7.







Sole
dispositive power



0







8.







Shared
dispositive power





5,027,435































9.







Aggregate
amount beneficially owned by each reporting person









5,027,435





10.







Check
if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐








11.







Percent
of class represented by amount in Row (9)








10.3%
(1)




12.







Type
of reporting person (see instructions)








OO









(1)
Calculated based on the number of shares of Common Stock owned by the Reporting Person, and assuming the exercise of all warrants
to purchase Common Stock of the Reporting Person, divided by all of the 46,231,025 issued and outstanding shares of Common Stock
of the Issuer as of January 7, 2021, as adjusted for the assumed exercise of the warrants to purchase 2,799,600 shares of Common
Stock owned by the Reporting Person

.











2





































1.







Name
of reporting person








Level
Field Partners, LLC




2.







Check
the appropriate box if a member of a group (see instructions)




(a)  ☐       (b)  ☒








3.







SEC
use only








4.







Citizenship
or place of organization








Delaware




































Number of




shares




beneficially




owned by




each




reporting




person




with:







5.







Sole
voting power




0







6.







Shared
voting power




5,027,435







7.







Sole
dispositive power




0







8.







Shared
dispositive power




5,027,435






























9.







Aggregate
amount beneficially owned by each reporting person









5,027,435





10.







Check
if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐








11.







Percent
of class represented by amount in Row (9)








10.3%
(1)




12.







Type
of reporting person (see instructions)








OO









(1)
Calculated based on the number of shares of Common Stock owned by the Reporting Person, and assuming the exercise of all warrants
to purchase Common Stock of the Reporting Person, divided by all of the 46,231,025 issued and outstanding shares of Common Stock
of the Issuer as of January 7, 2021, as adjusted for the assumed exercise of the warrants to purchase 2,799,600 shares of Common
Stock owned by the Reporting Person

.

















3





































1.







Name
of reporting person








Level
Field Management, LLC




2.







Check
the appropriate box if a member of a group (see instructions)




(a)  ☐       (b)  ☒








3.







SEC
use only








4.







Citizenship
or place of organization








Delaware




































Number of




shares




beneficially




owned by




each




reporting




person




with:







5.







Sole
voting power




0







6.







Shared
voting power




5,027,435







7.







Sole
dispositive power




0







8.







Shared
dispositive power




5,027,435






























9.







Aggregate
amount beneficially owned by each reporting person









5,027,435





10.







Check
if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐








11.







Percent
of class represented by amount in Row (9)








10.3%
(1)




12.







Type
of reporting person (see instructions)








OO









(1)
Calculated based on the number of shares of Common Stock owned by the Reporting Person, and assuming the exercise of all warrants
to purchase Common Stock of the Reporting Person, divided by all of the 46,231,025 issued and outstanding shares of Common Stock
of the Issuer as of January 7, 2021, as adjusted for the assumed exercise of the warrants to purchase 2,799,600 shares of Common
Stock owned by the Reporting Person

.











4







































1.







Name
of reporting person








Djemi
Traboulsi




2.







Check
the appropriate box if a member of a group (see instructions)




(a)  ☐       (b)  ☒








3.







SEC
use only








4.







Citizenship
or place of organization







Lebanon




































Number of




shares




beneficially




owned by




each




reporting




person




with:







5.







Sole
voting power




0







6.







Shared
voting power




5,027,435







7.







Sole
dispositive power




0







8.







Shared
dispositive power




5,027,435






























9.







Aggregate
amount beneficially owned by each reporting person









5,027,435





10.







Check
if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐








11.







Percent
of class represented by amount in Row (9)








10.3%
(1)




12.







Type
of reporting person (see instructions)








IN











(1)
Calculated based on the number of shares of Common Stock owned by the Reporting Person, and assuming the exercise of all warrants
to purchase Common Stock of the Reporting Person, divided by all of the 46,231,025 issued and outstanding shares of Common Stock
of the Issuer as of January 7, 2021, as adjusted for the assumed exercise of the warrants to purchase 2,799,600 shares of Common
Stock owned by the Reporting Person

.













5





































1.







Name
of reporting person








Elias
Farhat




2.







Check
the appropriate box if a member of a group (see instructions)




(a)  ☐       (b)  ☒








3.







SEC
use only








4.







Citizenship
or place of organization








United
States of America




































Number of




shares




beneficially




owned by




each




reporting




person




with:







5.







Sole
voting power




0







6.







Shared
voting power




5,027,435







7.







Sole
dispositive power




0







8.







Shared
dispositive power




5,027,435






























9.







Aggregate
amount beneficially owned by each reporting person









5,027,435





10.







Check
if the aggregate amount in Row (9) excludes certain shares (see instructions)    ☐








11.







Percent
of class represented by amount in Row (9)








10.3%
(1)




12.







Type
of reporting person (see instructions)








IN









(1)
Calculated based on the number of shares of Common Stock owned by the Reporting Person, and assuming the exercise of all warrants
to purchase Common Stock of the Reporting Person, divided by all of the 46,231,025 issued and outstanding shares of Common Stock
of the Issuer as of January 7, 2021, as adjusted for the assumed exercise of the warrants to purchase 2,799,600 shares of Common
Stock owned by the Reporting Person

.



















6






















Item 1(a).

Name of Issuer:





Landsea
Homes Corporation (the “Issuer”)














Item 1(b).

Address of Issuer’s Principal Executive Offices:




660 Newport
Center Drive, Suite 300, Newport Beach, California












Item 2(a).

Name of Person Filing:





The
persons filing this statement are Level Field Capital, LLC, Level Field Partners, LLC, Level Field Management, LLC, Mr. Djemi Traboulsi
and Mr. Elias Farhat.






Level
Field Partners, LLC is the managing member of Level Field Capital, LLC. Level Field Management, LLC is the managing member of
Level Field Partners, LLC. Messrs. Traboulsi and Farhat are the co-managing members of Level Field Management, LLC.












Item 2(b).

Address of Principal Business Office or, if None, Residence:




Level Field Capital, LLC:

600
Madison Avenue, Suite 1802, New York, NY 10022






Level
Field Partners, LLC: 600 Madison Avenue, Suite 1802, New York, NY 10022






Level
Field Management, LLC: 600 Madison Avenue, Suite 1802, New York, NY 10022






Mr.
Djemi Traboulsi: 600 Madison Avenue, Suite 1802, New York, NY 10022






Mr.
Elias Farhat: 600 Madison Avenue, Suite 1802, New York, NY 10022












Item 2(c).

Citizenship:




Level Field Capital,
LLC:

Delaware






Level
Field Partners, LLC: Delaware






Level
Field Management, LLC: Delaware






Mr.
Djemi Traboulsi: Lebanon






Mr.
Elias Farhat: United States of America














Item 2(d).

Title of Class of Securities:





Common
Stock, par value $0.0001 per share, of the Issuer (“Common Stock”)












Item 2(e)

CUSIP Number:




51509P103












Item 3.

If this Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check
Whether the Person Filing is a:





Not
applicable.










7


















Item 4.

Ownership.




(a) Amount Beneficially Owned:





As of January 7, 2021, the Reporting Persons
may be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Act), in the aggregate,

5,027,435
shares of Common Stock

. This includes 2,227,835 shares of Common Stock, and warrants to purchase 2,799,600 shares of Common
Stock (the “Warrants”) that are exercisable within 60 days of the date hereof. The information set forth in Item 4(c)
below is hereby incorporated in its entirety herein. Each of Level Field Partners, LLC and Level Field Management, LLC and Messrs.
Traboulsi and Elias may be deemed to indirectly beneficially own (as that term is defined in Rule 13d-3 under the Act) the shares
of Common Stock which Level Field Capital, LLC directly beneficially owns. Each of Level Field Partners, LLC and Level Field Management,
LLC and Messrs. Traboulsi and Elias disclaims beneficial ownership of such shares of Common Stock for all other purposes.





(b) Percent of Class





Calculated based
on the number of shares of Common Stock owned by the Reporting Person divided by all of the 49,030,625 issued and outstanding shares
of Common Stock of the Issuer as of January 7, 2021 (which total assumes the exercise of all of the Warrants for an additional
2,799,600 shares of Common Stock outstanding)

.





(c) Number of Shares as to which each Reporting
Person has (i) Sole power to vote or to direct the vote, (ii) Shared power to vote or to direct the vote, (iii) Sole power to dispose
or to direct the disposition of, (iv) Shared power to dispose or to direct the disposition of:





The information set forth in the cover
pages hereto is hereby incorporated in its entirety herein.












Item 5.

Ownership of Five Percent or Less of a Class.




Not Applicable












Item 6.

Ownership of More than Five Percent on Behalf of Another Person.




Not Applicable












Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported
on by the Parent Holding Company or Control Person.





Not
Applicable












Item 8.

Identification and Classification of Members of the Group.




See

Exhibit I

.












Item 9.

Notice of Dissolution of Group.




Not Applicable










8


















Item 10.

Certifications.




Not applicable.





EXHIBITS












I





Joint Filing Agreement, dated the date hereof, among the Reporting Persons.













9












SIGNATURE





After reasonable inquiry
and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.













































































































































Level Field Capital, LLC










By: Level Field Partners, LLC, its Managing Member










By: Level Field Management, LLC, its Managing Member



















By:



/s/ Elias Farhat









Name:



Elias
Farhat









Title:



Member


















By:



/s/ Djemi Traboulsi









Name:



Djemi
Traboulsi









Title:



Member



















Level Field Partners, LLC










By: Level Field Management, LLC, its Managing Member



















By:



/s/ Elias Farhat









Name:



Elias
Farhat









Title:



Member


















By:



/s/ Djemi Traboulsi









Name:



Djemi
Traboulsi









Title:



Member














10

































































































Level Field Management, LLC



















By:



/s/ Elias Farhat









Name:



Elias
Farhat









Title:



Member


















By:



/s/ Djemi Traboulsi









Name:



Djemi
Traboulsi









Title:



Member


















/s/ Djemi Traboulsi






Djemi Traboulsi


















/s/ Elias Farhat






Elias Farhat












11















EXHIBIT
I









JOINT
FILING AGREEMENT





In accordance with Rule 13d-1(k) under
the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of
a statement on Schedule 13G (including amendments thereto) with respect to shares of common stock, par value $0.0001 per share,
of Landsea Homes Corporation and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filings.
In evidence thereof, the undersigned, being duly authorized, have executed this Joint Filing Agreement this 19

th

day
of January, 2021.























































































































































Level Field Capital, LLC










By: Level Field Partners, LLC, its Managing Member










By: Level Field Management, LLC, its Managing Member



















By:



/s/ Elias Farhat









Name:



Elias
Farhat









Title:



Member


















By:



/s/ Djemi Traboulsi









Name:



Djemi
Traboulsi









Title:



Member



















Level Field Partners, LLC










By: Level Field Management, LLC, its Managing Member



















By:



/s/ Elias Farhat









Name:



Elias
Farhat









Title:



Member


















By:



/s/ Djemi Traboulsi









Name:



Djemi
Traboulsi









Title:



Member










12

































































































Level Field Management, LLC



















By:



/s/ Elias Farhat









Name:



Elias
Farhat









Title:



Member


















By:



/s/ Djemi Traboulsi









Name:



Djemi
Traboulsi









Title:



Member


















/s/ Djemi Traboulsi






Djemi Traboulsi


















/s/ Elias Farhat






Elias Farhat










13




The above information was disclosed in a filing to the SEC. To see the filing, click here.

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