Beazer Homes USA Inc: Key Developments
Beazer Homes USA, Inc. Announces Closing of Offerings
January 12, 2010 |
| Beazer Homes USA, Inc. announced the closing of its concurrent underwritten public offerings of 22,425,000 shares of its common stock and $57.5 million aggregate principal amount of its 7 ½% mandatory convertible subordinated notes due 2013, which included the full exercise of the underwriters' over-allotment option for each offering. The Company received net proceeds of $153,772,250 from the offerings, after underwriting discounts and commissions. |
Beazer Homes USA, Inc. Prices Public Offering Of Mandatory Convertible Subordinated Notes; Prices Public Offering of Common Stock
January 7, 2010 |
| Beazer Homes USA, Inc. announced that it has it has priced its previously announced offering of $50 million aggregate principal amount of its 7 ½% Mandatory Convertible Subordinated Notes due 2013 (Notes). On the stated maturity date, each Note, unless previously converted, will automatically convert into shares of the Company's common stock at a conversion rate of not less than 4.4547 shares of the Company's common stock per $25 principal amount of Notes and not more than 5.4348 shares of the Company's common stock per $25 principal amount of Notes, depending on the applicable market value of the Company's common stock and subject in each case to adjustment. The Notes will be issued pursuant to an effective registration statement that has been previously filed with the Securities and Exchange Commission. The Company also announced that it has priced its previously announced offering of 19,500,000 shares of its common stock at $4.60 per share. The shares will be issued pursuant to an effective registration statement that has been previously filed with the Securities and Exchange Commission. |
Beazer Homes USA, Inc. Announces Proposed Public Offering of Common Stock and Mandatory Convertible Subordinated Notes
January 5, 2010 |
| Beazer Homes USA, Inc. announced 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. |
CEO Of Beazer Homes USA, Inc. Receives SEC Notice-WSJ
November 16, 2009 |
| The Wall Street Journal reported that The Securities and Exchange Commission may move to claw back a portion of the compensation Beazer Homes USA paid its Chief Executive (CEO) during a period for which the company later restated earnings. The Company announced that Ian J. McCarthy received a Wells notice from the SEC, indicating that the agency's staff is recommending civil action against the executive. A Wells notice alerts a company or individual that the SEC staff plans to recommend a particular action to the commission. The notice doesn't mean the agency will take that action, but the SEC approves many of its staff's recommendations. |
Beazer Homes USA, Inc. Selected By Hearthstone To Complete Six Atlanta Communities
November 9, 2009 |
| Beazer Homes USA, Inc. announced that it has been chosen by Hearthstone, America's investor in residential development, to build and market homes on 462 home sites in six existing new home communities across the Metro Atlanta area. As part of the strategic partnership, Beazer Homes will manage all aspects of the construction, sales and marketing, and customer care for the new homes built on the 462 home sites owned by Hearthstone. |
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