Mr. Cooper Group Inc. (NasdaqCM:COOP) signed a definitive agreement to acquire Home Point Capital Inc. (NasdaqGS:HMPT) for approximately $320 million on May 10, 2023. As part of the transaction, Mr. Cooper will assume $500 million in outstanding Home Point 5% senior notes which are due in February 2026. Remainder of acquisition funded by MSR financing lines and existing liquidity. Following the onboarding of Home Point customers and the closing of the transaction, Mr. Cooper will shut down the remaining Home Point operations. The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions including receipt of regulatory approvals. Transaction is accretive to TBV, operating earnings, and ROTCE.

Wachtell, Lipton, Rosen & Katz and Richard Fenyes of Simpson Thacher & Bartlett LLP acted as legal advisors to Mr. Cooper. David B. Feirstein, P.C.; Peter C. Fritz, Jared M. Rusman, Timothy L. Company, Scott D. Price, Joshua N. Korff, Jennifer L. Lee, Edwin S. del Hierro, Edwin S. del Hierro of Kirkland & Ellis LLP acted as legal advisors to Home Point and Houlihan Lokey acted as financial advisor and fairness opinion provider to Home Point.