Dream Finders Homes, Inc. (DFH) Form 8-K — Oct 20, 2026
Dream Finders Homes completed its acquisition of Beazer Homes USA on October 20, 2026, in an all-cash transaction with an enterprise value of approximately $2.2 billion, paying Beazer shareholders $33.50 per share. The deal makes Dream Finders the nation's sixth-largest homebuilder and its ninth acquisition since its 2021 IPO. To fund the deal, Dream Finders sold an additional $450 million of Series B Convertible Preferred Stock at closing (on top of $225 million in September) and drew $572.1 million from a Millrose land bank facility, using the latter to redeem Beazer's $350 million of 7.250% Senior Notes due 2029.
Key figures
- Deal Value Usd
- 878400000
- Enterprise value
- $2.2 billion
- Beazer fy2025 revenue
- $2,371.6 million
- Beazer fy2025 net income
- $45.6 million
- Letter of credit sublimit
- $100,000,000
- Beazer 2029 notes redeemed
- $350 million of 7.250% Senior Notes due 2029
- Expected run rate synergies
- over $100 million annually
- Land bank facility proceeds
- $572.1 million
- Beazer total debt at 9 30 2025
- $1,029.1 million
- Merger consideration per share
- $33.50
- Preferred equity first closing
- $225.0 million
- Preferred equity second closing
- $450.0 million
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