The Miami-based homebuilder intends to use the proceeds from any such securities offering as a source for possible acquisitions.

"We do not expect to receive any cash proceeds from the issuance of these securities," according documents the company filed with the Securities and Exchange Commission. "While we are continuously involved in discussions about possible acquisitions, the only transaction we are discussing which currently appears probable would involve our payment of approximately $10 million, which would consist partly of cash and partly of shares of our common stock."

Over the past four years, the homebuilder has completed several major acquisitions through similar stock or debt offerings, including the acquisition in May last year of U.S. Home Corp. In that deal, Lennar paid U.S. Home shareholders $243 million cash and 13 million shares of Lennar common stock for a total price of about $267 million.