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Beazer Homes down 10% on stock offering

7/10/12 8:16 AM ET (MarketWatch)

NEW YORK (MarketWatch) -- Beazer Homes USA Inc. fell 9.8% in premarket trades on Tuesday after the company said it'll offer $75 million in common stock and $75 million in tangible equity units. The home builder said it'll use proceeds for up to $100 million in land investments in Florida, California, Texas, North Carolina and Arizona, as well as general corporate purposes.