UWM Holdings Corporation Announces Terms of Previously Announced Rights Offering for 200 million shares of Class A Common Stock
UWM Holdings announced terms for a rights offering of 200 million Class A shares, with each Class A holder of record as of October 2, 2026 receiving one transferable right per share. The subscription price is the greater of $2.00 or 85% of the ten-day VWAP from October 27 through November 9, 2026, and the offering expires November 12, 2026. Rights will trade on the NYSE under "UWMC RT." A backstop agreement with SFS Group, Mat Ishbia, and Oaktree affiliates guarantees at least $400 million in gross proceeds, with unfunded amounts purchased via Class A shares or junior perpetual preferred stock plus warrants equal to 20% of the preferred's liquidation preference.
Key figures
- Deal Value Usd
- 400000000
- Offering Price
- greater of $2.00 or 85% of 10-day VWAP (Oct 27 - Nov 9, 2026)
- Shares Offered
- 200000000
- Record date
- October 2, 2026
- Expiration date
- November 12, 2026
- Backstop parties
- ["SFS Group Capital, LLC","Mat Ishbia","Oaktree Capital Management, L.P. affiliates"]
- Rights ticker symbols
- ["UWMC RTWI","UWMC RT"]
- Minimum gross proceeds
- $400 million (with backstop)
AI analysis
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