UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Beazer Homes USA, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
07556Q105
(CUSIP Number)
January 22, 2010
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
----------------
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 12 Pages
CUSIP No. 07556Q105 13G Page 2 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
Highbridge International LLC
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions) (a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
$13,802,500 aggregate principal amount of 7.5%
OWNED BY Mandatory Convertible Subordinated Notes due 2013,
convertible into 2,459,439 shares of Common Stock
EACH -----------------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
0
PERSON WITH -----------------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
$13,802,500 aggregate principal amount of 7.5%
Mandatory Convertible Subordinated Notes due 2013,
convertible into 2,459,439 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
$13,802,500 aggregate principal amount of 7.5% Mandatory
Convertible Subordinated Notes due 2013, convertible into
2,459,439 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.98%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (see instructions) OO
--------------------------------------------------------------------------------
CUSIP No. 07556Q105 13G Page 3 of 12 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
Highbridge Statistical Opportunities Master Fund, L.P.
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
317,270 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
317,270 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
317,270 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.53%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (see instructions)
PN
--------------------------------------------------------------------------------
CUSIP No. 07556Q105 13G Page 4 of 12 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
STAR L.P. (a statistical arbitrage strategy)
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
498,649 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
498,649 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
498,649 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTE
D BY AMOUNT IN ROW (9)
0.84%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (see instructions)
PN
--------------------------------------------------------------------------------
CUSIP No. 07556Q105 13G Page 5 of 12 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
Highbridge Capital Management, LLC
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
$13,802,500 aggregate principal amount of 7.5%
Mandatory Convertible Subordinated Notes due 2013,
convertible into 2,459,439 shares of Common Stock
815,919 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
$13,802,500 aggregate principal amount of 7.5%
Mandatory Convertible Subordinated Notes due 2013,
convertible into 2,459,439 shares of Common Stock
815,919 shares of Common Stock
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
$13,802,500 aggregate principal amount of 7.5% Mandatory
Convertible Subordinated Notes due 2013, convertible into
2,459,439 shares of Common Stock
815,919 shares of Common Stock
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.30%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (see instructions)
OO
-----------------------------------------------------------------------
CUSIP No. 07556Q105 13G Page 6 of 12 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
Glenn Dubin
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
$13,802,500 aggregate principal amount of 7.5%
Mandatory Convertible Subordinated Notes due 2013,
convertible into 2,459,439 shares of Common Stock
815,919 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
$13,802,500 aggregate principal amount of 7.5%
Mandatory Convertible Subordinated Notes due 2013,
convertible into 2,459,439 shares of Common Stock
815,919 shares of Common Stock
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
$13,802,500 aggregate principal amount of 7.5% Mandatory
Convertible Subordinated Notes due 2013, convertible into
2,459,439 shares of Common Stock
815,919 shares of Common Stock
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.30%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (see instructions)
IN
-----------------------------------------------------------------------
CUSIP No. 07556Q105 13G Page 7 of 12 Pages
Item 1.
(a) Name of Issuer
Beazer Homes USA, Inc., a Delaware corporation (the "Company")
(b) Address of Issuer's Principal Executive Offices
1000 Abernathy Road,
Suite 1200
Atlanta Georgia 30328
Item 2(a). Name of Person Filing
Item 2(b). Address of Principal Business Office
Item 2(c). Citizenship
HIGHBRIDGE INTERNATIONAL LLC
c/o Harmonic Fund Services
The Cayman Corporate Centre, 4th Floor
27 Hospital Road
Grand Cayman, Cayman Islands, British West Indies
Citizenship: Cayman Islands, British West Indies
HIGHBRIDGE STATISTICAL OPPORTUNITIES MASTER FUND, L.P.
c/o Harmonic Fund Services
The Cayman Corporate Centre, 4th Floor
27 Hospital Road
Grand Cayman, Cayman Islands, British West Indies
Citizenship: Cayman Islands, British West Indies
STAR, L.P. (A STATISTICAL ARBITRAGE STRATEGY)
c/o Harmonic Fund Services
The Cayman Corporate Centre, 4th Floor
27 Hospital Road
Grand Cayman, Cayman Islands, British West Indies
Citizenship: Cayman Islands, British West Indies
HIGHBRIDGE CAPITAL MANAGEMENT, LLC
9 West 57th Street, 27th Floor
New York, New York 10019
Citizenship: State of Delaware
GLENN DUBIN
c/o Highbridge Capital Management, LLC
9 West 57th Street, 27th Floor
New York, New York 10019
Citizenship: United States
Item 2(d) Title of Class of Securities
Common Stock, $0.001 par value ("Common Stock")
Item 2(e) CUSIP Number
07556Q105
CUSIP No. 07556Q105 13G Page 8 of 12 Pages
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or
(c), check whether the person filing is a:
(a)[ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
(b)[ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c)[ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C.
78c).
(d)[ ] Investment company registered under Section 8 of the Investment Company
Act of 1940 (15 U.S.C. 80a-8).
(e)[ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f)[ ] An employee benefit plan or endowment fund in accordance with Rule
13d-1(b)(1)(ii)(F);
(g)[ ] A parent holding company or control person in accordance with Rule
13d-1(b)(1)(ii)(G);
(h)[ ] A savings association as defined in Section 3(b) of the Federal Deposit
Insurance Act (12 U.S.C. 1813);
(i)[ ] A church plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act of 1940 (15
U.S.C. 80a-3);
(j)[ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box. [X]
Item 4. Ownership
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
As of the date of this filing, (i) Highbridge International LLC
beneficially owns $13,802,500 aggregate principal amount of 7.5% Mandatory
Convertible Subordinated Notes due 2013(the "Notes"), convertible into 2,459,439
shares of Common Stock, (ii) Highbridge Statistical Opportunities Master Fund,
L.P. beneficially owns 317,270 shares of Common Stock, (iii) STAR, L.P. (a
statistical arbitrage strategy) beneficially owns 498,649 shares of Common Stock
and (iv) each of Highbridge Capital Management, LLC and Glenn Dubin may be
deemed the beneficial owner of the $13,802,500 aggregate principal amount of
Notes, convertible into 2,459,439 shares of Common Stock beneficially owned by
Highbridge International LLC and the 815,919 shares of Common Stock beneficially
owned by Highbridge Statistical Opportunities Master Fund, L.P. and STAR, L.P.
(a statistical arbitrage strategy).
Highbridge Capital Management, LLC is the trading manager of
Highbridge International LLC, Highbridge Statistical Opportunities Master Fund,
L.P. and STAR, L.P. (a statistical arbitrage strategy). Glenn Dubin is the Chief
Executive Officer of Highbridge Capital Management, LLC. The foregoing should
CUSIP No. 07556Q105 13G Page 9 of 12 Pages
not be construed in and of itself as an admission by any Reporting Person as to
beneficial ownership of shares of Common Stock owned by another Reporting
Person. In addition, each of Highbridge Capital Management, LLC and Glenn Dubin
disclaims beneficial ownership of shares of Common Stock held by Highbridge
International LLC, Highbridge Statistical Opportunities Master Fund, L.P. and
STAR, L.P. (a statistical arbitrage strategy).
(b) Percent of class:
The Company's Prospectus for the offering of the Notes filed pursuant
to Rule 424(b)(5) on January 6, 2010, indicates that the total number of shares
of Common Stock outstanding upon completion of the simultaneous Common Stock
offering is 59,319,273 shares of Common Stock. Therefore, based on the Company's
outstanding shares of Common Stock and, for purposes of clauses (i) and (iv)
below, assuming the conversion of the Notes, (i) Highbridge International LLC
may be deemed to beneficially own 3.98% of the outstanding shares of Common
Stock of the Company, (ii) Highbridge Statistical Opportunities Master Fund,
L.P. may be deemed to beneficially own 0.53% of the outstanding shares of Common
Stock of the Company, (iii) STAR, L.P. (a statistical arbitrage strategy) may be
deemed to beneficially own 0.84% of the outstanding shares of Common Stock of
the Company and (iv) each of Highbridge Capital Management, LLC and Glenn Dubin
may be deemed to beneficially own 5.30% of the outstanding shares of Common
Stock of the Company. The foregoing should not be construed in and of itself as
an admission by any Reporting Person as to beneficial ownership of shares of
Common Stock owned by another Reporting Person.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
0
(ii) Shared power to vote or to direct the vote
See Item 4(a)
(iii) Sole power to dispose or to direct the disposition of
0
(iv) Shared power to dispose or to direct the disposition of
See Item 4(a)
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
CUSIP No. 07556Q105 13G Page 10 of 12 Pages
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company or
Control Person
Not applicable.
Item 8. Identification and Classification of Members of the Group
See Exhibit I.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
By signing below each of the undersigned certifies that, to the best
of its knowledge and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any transaction
having that purpose or effect.
Exhibits:
Exhibit I: Joint Filing Agreement, dated as of January 29, 2010, by and among
Highbridge International LLC, Highbridge Statistical Opportunities Master Fund,
L.P., STAR, L.P. (a statistical arbitrage strategy), Highbridge Capital
Management, LLC and Glenn Dubin.
CUSIP No. 07556Q105 13G Page 11 of 12 Pages
SIGNATURES
After reasonable inquiry and to the best of its knowledge and
belief, each of the undersigned certifies that the information with respect to
it set forth in this statement is true, complete, and correct.
Dated: January 29, 2010
HIGHBRIDGE CAPITAL MANAGEMENT, LLC HIGHBRIDGE INTERNATIONAL LLC
By: Highbridge Capital Management, LLC
its Trading Manager
By: /s/ John Oliva By: /s/ John Oliva
----------------------------- -----------------------------
Name: John Oliva Name: John Oliva
Title: Managing Director Title: Managing Director
HIGHBRIDGE STATISTICAL OPPORTUNITIES STAR, L.P. (a statistical arbitrage
MASTER FUND, L.P. strategy)
By: Highbridge Capital Management, LLC By: Highbridge Capital Management, LLC
its Trading Manager its Trading Manager
By: /s/ John Oliva By: /s/ John Oliva
----------------------------- -----------------------------
Name: John Oliva Name: John Oliva
Title: Managing Director Title: Managing Director
/s/ Glenn Dubin
-----------------------------
GLENN DUBIN
CUSIP No. 07556Q105 13G Page 12 of 12 Pages
EXHIBIT I
JOINT FILING AGREEMENT
This will confirm the agreement by and among the undersigned that the Schedule
13G filed with the Securities and Exchange Commission on or about the date
hereof with respect to the beneficial ownership by the undersigned of the shares
of Common Stock, $0.001 par value, of Beazer Homes USA, Inc., is being filed,
and all amendments thereto will be filed, on behalf of each of the persons and
entities named below in accordance with Rule 13d-1(k) under the Securities
Exchange Act of 1934, as amended. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
Dated as of January 29, 2010
HIGHBRIDGE CAPITAL MANAGEMENT, LLC HIGHBRIDGE INTERNATIONAL LLC
By: Highbridge Capital Management, LLC
its Trading Manager
By: /s/ John Oliva By: /s/ John Oliva
----------------------------- -----------------------------
Name: John Oliva Name: John Oliva
Title: Managing Director Title: Managing Director
HIGHBRIDGE STATISTICAL OPPORTUNITIES STAR, L.P. (a statistical arbitrage
MASTER FUND, L.P. strategy)
By: Highbridge Capital Management, LLC By: Highbridge Capital Management, LLC
its Trading Manager its Trading Manager
By: /s/ John Oliva By: /s/ John Oliva
----------------------------- -----------------------------
Name: John Oliva Name: John Oliva
Title: Managing Director Title: Managing Director
/s/ Glenn Dubin
-----------------------------
GLENN DUBIN