Beazer Homes USA, Inc. Announces Pricing of $164 Million Aggregate Offerings of Common Stock and Tangible Equity Units
11 7월 2012 - 8:20AM
Business Wire
Beazer Homes USA, Inc. (NYSE: BZH) announced today that it 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.
The shares of common stock and the tangible equity units,
including the underlying stock purchase contracts and senior
amortizing notes, will all be issued pursuant to an effective shelf
registration statement on Form S-3 previously filed with the
Securities and Exchange Commission (SEC). Preliminary prospectus
supplements related to the offerings have been filed with the SEC
and are available free of charge on the SEC's website at
http://www.sec.gov. Copies of the preliminary prospectus
supplements and the accompanying base prospectus related to the
common stock and tangible equity units offerings may be obtained
from (i) Credit Suisse Securities (USA) LLC, Attention: Prospectus
Department, One Madison Avenue, New York, New York, 10010, or by
telephone at +1 (800) 221-1037, or by email at
newyork.prospectus@credit-suisse.com; (ii) Goldman, Sachs &
Co., via telephone: (866) 471-2526, email:
prospectus-ny@ny.email.gs.com, or standard mail at Goldman, Sachs
& Co., 200 West Street, New York, NY 10282, Attn: Prospectus
Department; (iii) Deutsche Bank Securities Inc., Attention:
Prospectus Group, 60 Wall Street, New York, NY 10005-2836 or by
telephone at: (800) 503-4611, or by email at:
prospectus.CPDG@db.com; or (iv) UBS Securities LLC, 299 Park
Avenue, New York, NY 10171, Attention: Prospectus Department, or by
calling (888) 827-7275. Investors should read these documents for
more complete information prior to investing.
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.
About Beazer Homes USA, Inc.
Beazer Homes USA Inc., headquartered in Atlanta, Georgia, is
one of the ten largest single-family homebuilders in the United
States. The Company’s industry-leading high performance
homes are designed to lower the total cost of home ownership while
reducing energy and water consumption. With award-winning
floor-plans, the Company offers homes that incorporate exceptional
value and quality to consumers in 16 states, including Arizona,
California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada,
New Jersey, New York, North Carolina, Pennsylvania, South Carolina,
Tennessee, Texas, and Virginia. Beazer Homes is listed on
the New York Stock Exchange and trades under the ticker symbol
“BZH.”
Beazer Homes USA (NYSE:BZH)
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