Beazer Homes Announces Proposed Public Offering of Common Stock and Mandatory Convertible Subordinated Notes
06 1월 2010 - 6:26AM
Business Wire
Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) (the
“Company”) announced today that it is commencing concurrent
underwritten public offerings of common stock and mandatory
convertible subordinated notes. The offerings will include the
issuance of 18,000,000 shares of the Company’s common stock and
$50.0 million aggregate principal amount of mandatory convertible
subordinated notes due 2013. In addition, the Company intends to
grant the underwriters a 30-day option to purchase up to an
additional 15% of the shares and mandatory convertible notes sold
to cover over-allotments. Citigroup Global Markets Inc. and Credit
Suisse Securities (USA) LLC are serving as the joint book-running
managers for the offerings, Deutsche Bank Securities Inc. and UBS
Securities LLC will serve as joint lead managers and Moelis &
Company LLC will serve as co-manager.
The Company intends to use the net proceeds from the offerings
to replenish funds used to redeem in full the Company’s 8 5/8%
Senior Notes due 2011, which the Company will call for redemption
prior to the closing of the offerings, and for other general
corporate purposes including, without limitation, funding (or
replenishing cash that has been used to fund) repurchases of the
Company’s outstanding senior notes that the Company may make from
time to time.
The shares and mandatory convertible notes will be issued
pursuant to an effective shelf registration statement filed with
the Securities and Exchange Commission on Form S-3. Preliminary
prospectus supplements related to the offerings will be filed with
the Securities and Exchange Commission and will be available on the
SEC’s website, http://www.sec.gov. Copies of the preliminary
prospectus supplements and the accompanying base prospectus related
to the offerings may be obtained from: Citigroup Global Markets
Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn,
NY 11220 (Attention: Prospectus Department; Telephone:
800-831-9146; E-mail: batprospectusdept@citi.com) or Credit Suisse
Securities (USA) LLC, Prospectus Department, One Madison Avenue,
New York, NY 10010 (Telephone: 800-221-1037).
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other
jurisdiction.
Beazer Homes USA, Inc., headquartered in Atlanta, is one of the
country’s ten largest single-family homebuilders with continuing
operations in Arizona, California, Delaware, Florida, Georgia,
Indiana, Maryland, Nevada, New Jersey, New Mexico, New York, North
Carolina, Pennsylvania, South Carolina, Tennessee, Texas, and
Virginia. Beazer Homes is listed on the New York Stock Exchange
under the ticker symbol “BZH.”
Forward Looking
Statements
This press release contains forward-looking statements. These
forward-looking statements represent our expectations or beliefs
concerning future events, and it is possible that the results
described in this press release will not be achieved. These
forward-looking statements are subject to risks, uncertainties and
other factors, many of which are outside of our control, that could
cause actual results to differ materially from the results
discussed in the forward-looking statements, including, among other
things, changing market conditions, the Company’s ability to
complete the offerings and the Company’s ability to repurchase its
outstanding senior notes from time to time. For more information,
see the Company’s filings with the Securities and Exchange
Commission, including the preliminary prospectus supplements
relating to the proposed offerings.
Any forward-looking statement speaks only as of the date on
which such statement is made, and, except as required by law, we do
not undertake any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. New factors emerge from time to time
and it is not possible for management to predict all such
factors.
Beazer Homes USA (NYSE:BZH)
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