Beazer Homes (BZH) Prices 22M Offering at $2.90/Share, Upzised 4M Equity Units at $25/Each

Beazer Homes USA, Inc. (NYSE: BZH) has priced its previously announced offering of 22,000,000 shares of its common stock at a price to the public of $2.90 per share, resulting in net proceeds of approximately $60.1 million to the Company, after deducting underwriting discounts and commissions and estimated offering expenses. The Company also priced its offering of 4,000,000 7.50% tangible equity units at $25 each, resulting in net proceeds to the Company of approximately $96.5 million. The Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 tangible equity units to cover over-allotments and a 30-day option to purchase up to an additional 3,300,000 shares of common stock. The Company’s common stock is listed on the New York Stock Exchange under the symbol “BZH,” and the Company intends to apply to list the tangible equity units on the New York Stock Exchange under the symbol “BZT.”

The Company intends to use the net proceeds from these concurrent offerings for growth capital, including for approximately $100 million of potential land investments in Florida, California, Texas, North Carolina and Arizona, and for general corporate purposes, including the repayment of outstanding indebtedness.

Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., Deutsche Bank Securities Inc. and UBS Securities LLC are serving as the joint book-running managers for the offerings and KKR Capital Markets LLC and Moelis & Company LLC are serving as co-managers for the offerings.

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