Dream Finders Homes Completes Acquisition of Beazer Homes for $33.50 per Share

Dream Finders Homes, Inc. completed the merger of Beazer Homes USA, Inc. on October 20, 2026, paying shareholders $33.50 in cash per share. The transaction closed pursuant to a merger agreement dated August 6, 2026, which was previously disclosed by Beazer Homes in a Form 8-K filed with the Securities and Exchange Commission on August 7, 2026. Upon completion, Beazer Homes became a wholly owned subsidiary of Dream Finders Homes.

The acquisition was financed through the termination of Beazer Homes' existing debt instruments. On the closing date, all outstanding obligations under the company's credit agreement, originally dated October 13, 2022 and administered by JPMorgan Chase Bank, N.A., were repaid in full and the agreement was terminated. Additionally, Dream Finders Homes caused sufficient funds to be irrevocably deposited with U.S. Bank Trust Company, National Association to redeem all outstanding $350 million aggregate principal amount of 7.250% senior notes due 2029.

The redemption of the 2029 notes was conditioned on the substantially concurrent completion of the merger, in accordance with the indenture governing those securities. A notice of conditional redemption had been delivered to holders on September 28, 2026, prior to the closing event. The merger agreement stipulated that each outstanding share of Beazer Homes common stock, excluding treasury stock and shares held by the parent or its subsidiaries, was converted into the right to receive the fixed cash consideration subject to required withholding taxes.

Equity awards granted under Beazer Homes' plans were also resolved at the effective time of the merger. Outstanding options to purchase shares were fully vested, cancelled, and converted into cash payments equal to the excess of the merger consideration over the exercise price, if any. Options with exercise prices greater than or equal to $33.50 were cancelled for no consideration. Restricted stock awards and performance-based restricted stock awards were cancelled and converted into cash payments based on the number of shares subject to the award multiplied by the merger consideration. For performance-based awards covering uncompleted periods, performance conditions were deemed achieved at target level for the purpose of calculating the payout.

Beazer Homes USA, Inc. is incorporated in Delaware and maintains its principal executive offices at 2002 Summit Boulevard in Atlanta, Georgia. The company's common stock is registered under Section 12(b) of the Securities Exchange Act of 1934 and trades on the New York Stock Exchange under the symbol BZH. The merger represents the culmination of a process that began with the initial announcement in August 2026, resulting in the elimination of Beazer Homes' independent public listing and its integration into Dream Finders Homes' corporate structure.