DFH News & Events

Dream Finders Homes (DFH) issued the following statement in response to a press release from Beazer Homes (BZH) regarding Dream Finders' revised proposal to acquire all outstanding shares of Beazer in an all-cash transaction for $32.00 per share, submitted privately to the Beazer board on June 30 and disclosed publicly to Beazer shareholders on July 8. "Dream Finders remains committed to pursuing a transaction that delivers compelling value for Beazer shareholders. The Company reiterates its willingness to execute an NDA with a limited standstill so the parties can commence due diligence and Dream Finders can confirm its best offer for shareholders. Importantly, any standstill must appropriately preserve Dream Finders' ability to engage with shareholders or nominate directors for election at Beazer's 2027 Annual Meeting. Beazer's claim that the confidentiality and standstill agreement they have asked us to sign is "customary" is not grounded in reality. A 12-month standstill is not necessary to conduct due diligence. Instead, it would prohibit our ability to re-engage shareholders after our diligence is concluded and would limit our optionality in pursuing a transaction that delivers significant, certain, and immediate value for all Beazer shareholders. Considering the Beazer Board's refusal to engage constructively to date, we view this as another attempt to impede a potential transaction. The terms of the standstill that we are requesting are intended solely to preserve Dream Finders' ability to re-engage Beazer's shareholders directly, to protect their interests, as a Beazer shareholder ourselves, and to prevent further value destruction under Beazer's current management team. Dream Finders also requests that the Beazer Board provide transparency around the expressions of interest from "additional parties" and whether these are comparable to Dream Finders' all-cash $32.00 per share offer with highly confident financing support." Patrick Zalupski, Dream Finders' chairman and CEO, said, "We have engaged with numerous Beazer shareholders, and there is broad agreement that a limited standstill, as we have already proposed, is appropriate and customary at this juncture. We remain committed to pursuing this transaction, which delivers immediate and compelling value for Beazer shareholders. We urge all shareholders to encourage the Beazer Board to remove its unreasonable preconditions on due diligence and engage constructively to pursue this compelling proposal."

Stocks spent the session broadly in the red as oil prices surged once again after the U.S. launched new strikes on Iran, with President Trump saying the ceasefire is "over." WTI crude oil futures settled at $73.52 per barrel, up over 4%, on fears that renewed hostilities and attacks near the Strait of Hormuz could disrupt global energy supplies. The rally boosted shares of oil producers, while weighing on airlines, cruise operators and other travel-related stocks that are sensitive to higher fuel costs.Meanwhile, the Federal Reserve released the minutes from its last meeting, in which it said a "few" members saw the case for a June rate hike, though those participants indicated that they supported maintaining the current target range at this meeting. Additionally, the Fed said in the minutes that most participants remarked on scenarios in which inflationary pressures would dissipate and inflation would soon begin to return to 2%. In such scenarios, almost all of these participants noted that it would likely be appropriate to maintain or eventually lower the target range for the federal funds rate.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:After U.S. Central Command launched strikes on targets in Iran in response to its attacks on commercial vessels passing through the Strait of Hormuz, U.S. President Donald Trump said that the U.S.Appleannounced awith Broadcomto design and produce custom silicon components and cutting-edge wireless connectivity technologiesDream Finders HomeshasBeazer Homesfor $32 per shareChina will allow top AI companies to buy some NvidiaH200 chips,A "few" Federal Reserve members said they saw the case for a June rate increase, though they also supported maintaining the current target range,2. WALL STREET CALLS:Dollar Treeto Outperform at Raymond James and to Neutral at Goldman SachsOccidentalto Outperform at Evercore ISIBarclaysCommunity Healthto Underweight while also downgrading HCA Healthcareand Universal Healthto Equal WeightBath & Body Worksto Sell at Goldman SachsJPMorganOllie's Bargain Outletto Neutral, sees Q2 miss3. AROUND THE WEB:Hunterbrook published a short report on Bloom Energy, though the company told Bloomberg it plans to "correct the record"OpenAI will publicly launch GPT-5.6, its most advanced AI model, on Thursday following a delay last month prompted by U.S. government requests over heightened national security concerns about the potential misuse of powerful AI technologies, Reuters saysJPMorgan Chaseis planning to target small-company deals, establishing a new team of investment bankers focused on small-cap companies valued between $100M-$500M, WSJ reportsSK Hynix's$28B ADR offering is seeing strong investor demand, with orders oversubscribing the deal ahead of pricing and allocation later in the week, Reuters saysLast week, Tate Bennett, chief of staff for USDA Secretary Brooke Rollins, spoke with grocers including Walmart, Kroger, and Albertsonsasking about their prices for beef heading into the holiday weekend, WSJ reports4. MOVERS:Prime Medicinegained after the company reported awith Beam TherapeuticsPenguin Solutionswas higher afterand increasing its guidance for FY26Redwireincreased after appointing Paul Reichert and Niki WerkheiserFuelCellwas lower after announcing aNavitasfell after Wolfspeedfiled aagainst the company5. EARNINGS/GUIDANCE:Helen of Troyand reaffirmed its guidance for FY27Sono-Tek, with the company commenting, "Fiscal 2027 is off to a strong start"Palladyne AIreportedHyperscale Databacked itsEnerpac Toolsand raised its guidance for FY26INDEXES:The Dow fell 576.76, or 1.09%, to 52,348.39, the Nasdaq gained 51.96, or 0.20%, to 25,870.65, and the S&P 500 declined 21.14, or 0.28%, to 7,482.71.

The major averages were dropping as oil prices surged once again after the U.S. launched new strikes on Iran, with President Trump saying the ceasefire is "over." Oil prices are up over 7% near midday on fears that renewed hostilities and attacks near the Strait of Hormuz could disrupt global energy supplies. The rally is boosting shares of oil producers, while weighing on airlines, cruise operators and other travel-related stocks that are sensitive to higher fuel costs.Meanwhile, traders are keeping an eye on this afternoon's release of the Federal Reserve's June meeting minutes for additional insight into policymakers' views on inflation and interest rates. However, with oil prices climbing and geopolitical tensions escalating, markets may place greater emphasis on developments in the Middle East than on backward-looking Fed commentary.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:After U.S. Central Command launched strikes on targets in Iran in response to its attacks on commercial vessels passing through the Strait of Hormuz, U.S. President Donald Trump said that theAppleannounced awith Broadcomto design and produce custom silicon components and cutting-edge wireless connectivity technologiesDream Finders Homeshas submitted aBeazer Homesfor $32 per shareChina will allow top AI companies to buy some NvidiaH200 chips,Estee Lauderseeson its previously announced restructuring2. WALL STREET CALLS:Dollar Treeto Outperform at Raymond James and to Neutral at Goldman SachsOccidentalto Outperform at Evercore ISIBarclaysCommunity Healthto Underweight while also downgrading HCA Healthcareand Universal Healthto Equal WeightBath & Body Worksto Sell at Goldman SachsJPMorganOllie's Bargain Outletto Neutral, sees Q2 miss3. AROUND THE WEB:OpenAI will publicly launch GPT-5.6, its most advanced AI model, on Thursday following a delay last month prompted by U.S. government requests over heightened national security concerns about the potential misuse of powerful AI technologies, Reuters saysMetais testing "super sensing" AI glasses that use cameras and audio to capture every moment, continuously collecting audio while taking photos every few seconds, FT saysJPMorgan Chaseis planning to target small-company deals, establishing a new team of investment bankers focused on small-cap companies valued between $100M-$500M, WSJ reportsSK Hynix's$28B ADR offering is seeing strong investor demand, with orders oversubscribing the deal ahead of pricing and allocation later in the week, Reuters saysLast week, Tate Bennett, chief of staff for USDA Secretary Brooke Rollins, spoke with grocers including Walmart, Kroger, and Albertsonsasking about their prices for beef heading into the holiday weekend, WSJ reports4. MOVERS:Prime Medicinegains after Cathie Wood's206.2K shares of the stockPenguin Solutionshigher afterand increasing its guidance for FY26Redwireincreases after appointing Paul Reichert and Niki Werkheiser asFuelCelllower after announcing aNavitasfalls after Wolfspeedfiled aagainst the company5. EARNINGS/GUIDANCE:Helen of Troyand reaffirmed its guidance for FY27Sono-Tek, with the company commenting, "Fiscal 2027 is off to a strong start"Palladyne AIHyperscale Datafor FY26Enerpac Toolsand raised its guidance for FY26INDEXES:Near midday, the Dow was down 1.53%, or 810.61, to 52,114.54, the Nasdaq was down 1.02%, or 262.53, to 25,556.16, and the S&P 500 was down 0.97%, or 73.06, to 7,430.79.

Beazer Homes USA (BZH) issued the following statement in response to a press release issued by Dream Finders Homes (DFH): "Following Dream Finders' proposal to acquire Beazer for $25.75 per share in cash, made public on May 11, the Company has received interest from additional parties regarding a range of potential transactions. Beazer's Board of Directors, in consultation with its financial and legal advisors, is carefully considering all opportunities to maximize shareholder value relative to the Company's current standalone strategy. In connection with this work, on June 29, Beazer informed Dream Finders that it believed Dream Finders' June 22, updated proposal to acquire the Company for $29.25 per share continued to significantly undervalue the Company and did not represent an appropriate basis for further discussion. In reaching this decision, Beazer's Board was informed, in part, by the potential shareholder value represented by other proposals and Beazer's current standalone strategy. In a good faith effort to engage constructively, the Company informed Dream Finders that it would, in fact, be willing to enter into discussions if the following three conditions were met: First, Dream Finders would need to submit an improved proposal that was more in line with the values presented by the other alternatives the Board is currently considering. Second, Dream Finders would need to sign a customary confidentiality and "standstill" agreement - just as other parties have done. Third, Dream Finders would need to drop its requirement that Beazer negotiate with it on an exclusive basis. On June 30, Dream Finders raised the value of its proposal to $32.00 per share and relinquished its exclusivity requirement, but it refused to enter into a customary confidentiality and "standstill" agreement similar to those entered into by other parties. Instead, Dream Finders decided to make its latest proposal public in what can only be perceived as an attempt to pressure Beazer's Board to engage with Dream Finders under unilateral terms that Beazer's Board does not believe to be in the best interests of shareholders."