Mr. Cooper Extends Expiration Date Of Its Tender Offer To Acquire Home Point Capital To July 31, 2023
Mr. Cooper Group Inc. (NASDAQ:COOP) ("Mr. Cooper") announced today that Heisman Merger Sub, Inc. ("Purchaser"), a wholly owned subsidiary of Mr. Cooper, has extended the expiration date of its offer (the "Offer") to acquire all of the outstanding shares of common stock of Home Point Capital Inc. (NASDAQ:HMPT) ("Home Point"), par value $0.0000000072 per share ("Shares"), for $2.33 per Share, net to the seller in cash, without interest thereon and subject to any required withholding, pursuant to the Agreement and Plan of Merger, dated as of May 10, 2023, by and among Mr. Cooper, Home Point, and Purchaser.
The Offer, which was previously scheduled to expire at 5:00 p.m., Eastern Time, on July 21, 2023, has been extended until 5:00 p.m., Eastern Time, on July 31, 2023.
Equiniti Trust Company, the depositary for the Offer, has indicated that as of 5:00 p.m., Eastern Time, on July 21, 2023, approximately 136,198,462 Shares had been validly tendered into and not validly withdrawn from the tender offer, representing approximately 98.3% of the outstanding Shares. Holders that have previously tendered their shares do not need to re-tender their shares or take any other action in response to this extension.
The Offer is being made pursuant to the terms and conditions described in the Offer to Purchase, dated May 26, 2023 (as it may be amended or supplemented from time to time, the "Offer to Purchase"), the related Letter of Transmittal and certain other offer documents, copies of which are attached to the Tender Offer Statement on Schedule TO filed by Mr. Cooper and Purchaser with the U.S. Securities and Exchange Commission (the "SEC") on May 26, 2023, as amended.
The Offer is conditioned upon the fulfillment of certain conditions described in "The Tender Offer—Section 15—Conditions to the Offer" of the Offer to Purchase, including, but not limited to, the receipt of consents from the Government National Mortgage Association and the Federal National Mortgage Association. The tender offer was extended to allow additional time for the satisfaction of the remaining conditions to the tender offer.
