Dream Finders Homes, Inc. announced on October 22, 2026, that it has commenced a private exchange offer and consent solicitation for outstanding debt issued by its recently acquired subsidiary, Beazer Homes USA, Inc.
The company is offering to exchange Beazer’s outstanding 7.500% Senior Notes due 2031 and 8.000% Senior Notes due 2032 for new Dream Finders Notes. The total principal amount of the Beazer Notes being offered is $650 million, consisting of $250 million of the 2031 Notes and $400 million of the 2032 Notes.
Under the terms of the exchange, eligible holders can receive $1,000 principal amount of Dream Finders Notes for every $1,000 principal amount of Beazer Notes tendered. Holders who tender by the Early Participation Date of November 4, 2026, will also receive an early participation premium of $50 in Dream Finders Notes and $1.00 in cash per $1,000 principal amount.
In addition to the exchange, Dream Finders is soliciting consents to amend the Beazer Notes and related indentures to eliminate restrictive covenants and events of default. Holders must tender their notes to receive these consent amendments.
The exchange offer is being made only to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S. The Dream Finders Notes have not been registered under the Securities Act of 1933.
