Business is booming.

Mr. Cooper gives Home Point shareholders more time to sell their stocks


“Approximately 136,030,882 shares had been validly tendered into and not validly withdrawn from the tender offer, representing approximately 98.2% of the outstanding shares,” the group noted in its news release.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.

Want to keep up with the latest mortgage news? Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.



Source link

Comments are closed, but trackbacks and pingbacks are open.