UPDATE 1-Beazer estimates higher orders for 3rd qtr
* Says Q3 rev $250 mln to $260 mln vs est $263.1 mln
* Q3 housing orders up 28 pct
* To raise $150 million from offerings
July 9 (Reuters) - Homebuilder Beazer Homes USA Inc estimated higher orders for the third quarter and said it plans to raise $150 million in share offering.
It plans to offer $75 million of its common stock and 3 million tangible equity units.
The company plans to use the proceeds from the offerings to fund expansion of its home community count and repay debt.
Beazer, which competes with Ryland Group Inc and Lennar Corp, also estimated a 28 percent rise in home orders to 1,555 units for the quarter ended June.
Backlog jumped by 33 percent.
Beazer estimated third-quarter revenue of $250 million to $260 million, below analysts' expectations of $263.1 million, according to Thomson Reuters I/B/E/S.
Shares of Atlanta, Georgia-based Beazer closed at $3.38 on the New York Stock Exchange.