Business is booming.

Mat Ishbia cancels secondary stock offering for UWM


“Unfortunately, while there was more than enough demand from potential investors, the overall market conditions were such that the prices offered were not at levels that I will entertain,” he said.

Ishbia decided not to sell any stocks for now as UWMC pushes its plans to increase its public float to a later date and accelerate its buyback program instead. UWM Holdings was trading at $6.73 at the time of publication, up 19.31%

Read more: UWM Holdings Corp. announces Q3 results

“We will be aggressive with utilizing our remaining buyback authorization at these prices, and if the market returns to a reasonable level, SFS will be willing to do its part by providing availability to increase the public float, but the terms have to make sense, and doing a deal today at these levels did not make sense to me,” Ishbia said.

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