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“Approximately 136,030,882 shares had been validly tendered into and not validly withdrawn from the tender offer, representing approximately 98.2% of the outstanding shares,” the group noted in its news release. “Holders that have previously tendered their shares do not need to re-tender their share or take any other action in response to this extension.”
Read more: Home Point Capital shuts down for good, sells to Mr. Cooper
Mr. Cooper’s planned acquisition of Home Point was first announced in May. Mr. Cooper signed a definitive agreement to acquire all remaining shares of the now-defunct wholesale lender. A month before that, Home Point sold certain assets of its origination channel to The Loan Store.
“The senior notes we’re assuming from Home Point serve as a low-cost source of funding and contribute to an attractive rate of return on this transaction,” Mr. Cooper chief financial officer Kurt Johnson said back in May.
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