• Dream Finders posted an investor presentation backing its proposal to buy Beazer Homes in an all-cash deal priced at $25.75 per share, a roughly 40% premium to Beazer’s May 5 close, valuing the equity at about $704 million.
• The presentation argues Beazer has underperformed peers on profitability and growth, citing a 640 basis point gap to small- and mid-cap peers on LTM adjusted gross margin, a 1,040 basis point gap on pre-tax margin, and a 30% share-price decline since 2011 versus gains of 606% for ITB and 490% for XHB.
• It also highlights Beazer’s leverage at 12.7x net debt to LTM EBITDA, with share repurchases funded by land sales, and says Beazer has traded at an approximately 30% to 50% discount to book value per share over the past decade.
• Dream Finders positions itself as a better operator, citing 2023-2025 outperformance versus Beazer of 700 basis points in home closings CAGR, 500 basis points in average gross margin, and average ROE of 27% versus 9%.
• Investor presentation posted at https://announcement.dreamfindershomes.com.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Dream Finders Homes Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-26-037047), on May 21, 2026, and is solely responsible for the information contained therein.