Beazer Homes USA, Inc. Announces Proposed Public Offerings of Common Stock and Tangible Equity Units ($BZH)

Another homebuilder equity sale announced after hours:

The Company is offering $75 million of its common stock and 3,000,000 (equal to $75 million) of its tangible equity units in the concurrent offerings. The units are comprised of a prepaid stock purchase contract and an unsecured senior amortizing note due 2015.
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The Company intends to use the net proceeds from these concurrent offerings 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.

No position. The BZH bonds seem to trade at lower yields (tighter) than the HOV bonds.