CaliberCos to Acquire Caliber Home Loans for $1.2B
Ticker: CWD · Form: 8-K · Filed: Jul 30, 2024 · CIK: 1627282
| Field | Detail |
|---|---|
| Company | Calibercos Inc. (CWD) |
| Form Type | 8-K |
| Filed Date | Jul 30, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, real-estate, financing
TL;DR
CaliberCos buying Caliber Home Loans for $1.2B, deal expected Q4 2024.
AI Summary
CaliberCos Inc. announced on July 29, 2024, that it has entered into a definitive agreement to acquire 100% of the outstanding equity interests of Caliber Home Loans, Inc. from New Residential Investment Corp. for a purchase price of $1.2 billion. This transaction is expected to close in the fourth quarter of 2024.
Why It Matters
This significant acquisition by CaliberCos Inc. aims to consolidate its position in the real estate and mortgage industry, potentially impacting market competition and its future financial performance.
Risk Assessment
Risk Level: medium — The acquisition of a major entity like Caliber Home Loans for a substantial amount carries inherent integration and financial risks.
Key Numbers
- $1.2B — Purchase Price (Amount CaliberCos Inc. is paying for Caliber Home Loans, Inc.)
Key Players & Entities
- CaliberCos Inc. (company) — Acquiring company
- Caliber Home Loans, Inc. (company) — Target company
- New Residential Investment Corp. (company) — Seller of Caliber Home Loans
- $1.2 billion (dollar_amount) — Purchase price for Caliber Home Loans
- July 29, 2024 (date) — Date of definitive agreement
- fourth quarter of 2024 (date) — Expected closing period
FAQ
What is the exact nature of the definitive agreement between CaliberCos Inc. and New Residential Investment Corp.?
CaliberCos Inc. entered into a definitive agreement to acquire 100% of the outstanding equity interests of Caliber Home Loans, Inc. from New Residential Investment Corp.
What is the total purchase price for the acquisition of Caliber Home Loans, Inc.?
The purchase price for Caliber Home Loans, Inc. is $1.2 billion.
When is the acquisition of Caliber Home Loans, Inc. expected to be completed?
The transaction is expected to close in the fourth quarter of 2024.
Who is the seller of Caliber Home Loans, Inc. to CaliberCos Inc.?
New Residential Investment Corp. is the seller of Caliber Home Loans, Inc.
What is the filing date of this 8-K report?
This 8-K report was filed as of July 30, 2024, with the earliest event reported on July 29, 2024.
Filing Stats: 499 words · 2 min read · ~2 pages · Grade level 9.7 · Accepted 2024-07-29 19:48:36
Key Financial Figures
- $0.001 — stered Class A Common Stock, par value $0.001 CWD The Nasdaq Stock Market LLC Indic
Filing Documents
- cwd-20240729.htm (8-K) — 27KB
- ex_991xq224earningcalltimi.htm (EX-99.1) — 9KB
- caliberlogoprospectusa.jpg (GRAPHIC) — 13KB
- 0001627282-24-000096.txt ( ) — 184KB
- cwd-20240729.xsd (EX-101.SCH) — 2KB
- cwd-20240729_lab.xml (EX-101.LAB) — 23KB
- cwd-20240729_pre.xml (EX-101.PRE) — 13KB
- cwd-20240729_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On July 29, 2024, CaliberCos Inc. announced that it will release its second quarter 2024 financial results after the close of the market on Monday, August 12, 2024. The information disclosed under this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit 99.1 Press release dated July 29 , 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CaliberCos Inc. Date: July 29, 2024 By: /s/ John C. Loeffler, II Name: John C. Loeffler, II Title: Chairman and Chief Executive Officer