Beazer Homes USA, Inc. (BZH) News & EventsBZHBeazer Homes USA, Inc.

Dream Finders Homes Completes Shareholder Vote for Beazer Homes Acquisition

Dream Finders Homes (DFH) announced that stockholders of Beazer Homes USA (BZH) overwhelmingly voted to approve Dream Finders' acquisition of Beazer at a special meeting of stockholders held earlier Thursday. This approval represents a significant milestone and one of the final requirements necessary for Dream Finders to acquire Beazer. As the parties to the proposed transaction already received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, Dream Finders expects to consummate the transaction on October 20, 2026, with its already-disclosed available or committed sources of funds.

Dream Finders Homes Proposes Acquisition of Beazer Homes and Cash Compensation

Dream Finders Homes (DFH) announced that, in connection with the proposed acquisition of Beazer Homes USA (BZH), it is soliciting consents from holders of Beazer's outstanding 7.500% Senior Notes due 2031 and outstanding 8.000% Senior Notes due 2032 to an amendment to the indentures governing the 2031 Notes and the 2032 Notes. Dream Finders will make a cash payment of $22.50 per $1,000 in aggregate principal amount of 2031 Notes and $10.00 per $1,000 in aggregate principal amount of 2032 Notes to each holder of Notes as of 5:00 p.m., New York City time, on September 8 that has validly delivered and not revoked its consent at or prior to the Expiration Time, if the conditions set forth in the Consent Solicitation Statement, dated September 9, have been satisfied or waived. The Consent Fee will be paid substantially concurrently with the consummation of the Merger. The Proposed Amendment relates to the definition of "Change of Control" in each of the Indentures. The Proposed Amendment would provide that the acquisition of Beazer by Dream Finders pursuant to the Agreement and Plan of Merger, dated as of August 6, among Dream Finders, Bulldogs Merger Sub, Inc. and Beazer would not constitute a "Change of Control" as defined in the applicable Indenture. As a result, if the Requisite Consents with respect to a series of Notes are obtained, the merger of Merger Sub with and into Beazer, with Beazer continuing as the surviving corporation and a wholly owned subsidiary of Dream Finders, no "Change of Control Offer" would be required with respect to such series of Notes in connection with the Merger.

Oppenheimer Downgrades Beazer Homes to Perform

Oppenheimer downgraded Beazer Homes (BZH) to Perform from Outperform after it agreed to be acquired by Dream Finders Homes (DFH) in an all-cash transaction valued at roughly $2.2B in enterprise value. The purchase price represents a 0.9x price/book multiple on the consensus 2026 book value per share estimate and 0.8x current BVPS, and is 16x the firm's 2027 EPS estimate of $2.06, the analyst tells investors in a research note. The firm added that the purchase price is in line with Beazer's closing share price of $33.46 on August 6, 2026.