Rights IssueOct 5, 2026, 05:26 PM
UWM Holdings Corp. Launches $400M Rights Offering
AI Summary
UWM Holdings Corporation has launched its previously announced rights offering aimed at raising up to $400 million. The offering allows holders of Class A common stock as of October 2, 2026, to purchase additional shares. Each right grants the ability to buy 0.57 shares at a price determined by the greater of $2.00 or 85% of the 10-day volume-weighted average price before the offering's expiration on November 12, 2026. An over-subscription right is available for those who fully exercise their basic subscription. A backstop agreement with SFS Group Capital, LLC, Mat Ishbia, and Oaktree Capital Management, L.P. ensures a minimum of $400 million in gross proceeds.
Key Highlights
- UWM Holdings Corp. commenced its previously announced rights offering to raise up to $400 million.
- Each holder of Class A common stock as of October 2, 2026, receives one subscription right per share.
- Each right entitles the holder to purchase 0.57 shares of Class A common stock.
- The subscription price per share is the greater of $2.00 or 85% of the 10-day VWAP prior to expiration.
- Rights holders who fully exercise their basic subscription right can subscribe for additional unsubscribed shares.
- The rights offering expires on November 12, 2026.
- Backstop agreement with SFS Group Capital, LLC, Mat Ishbia, and Oaktree Capital Management, L.P. to ensure $400 million in proceeds.
- As of the Record Date, the closing price of Class A Common Stock was $1.26.
Price Impact
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