Homebuilder Beazer Homes USA Inc. (NYSE: BZH) today priced a secondary offering of 22 million shares of common stock at $2.90/share, a discount of about 2.7% from last night’s closing price of $2.98/share. The company also priced an offering of 4 million 7.5% tangible equity units at $25/unit. Beazer has granted 30-day overallotment options of 3.3 million shares and 600,000 tangible equity units to the underwriters.
The company expects net proceeds of about $60.1 million from the stock offering and $96.5 million. Beazer said that it will use the proceeds “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.”
Beazer noted that it will apply to list the tangible equity units on the NYSE under the symbol ‘BZT”, but gave no further details on its listing plans.
The company’s shares are down -3.7% in the early afternoon today at $2.87 in a 52-week range of $1.35-$3.98.
Paul Ausick
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.