Mat Ishbia Amends UWM Holdings Stake Filing

TL;DR

Ishbia's SFS Holding Corp. updated its UWM Holdings stake filing on 10/3.

AI Summary

Mat Ishbia, through SFS Holding Corp., has filed an amendment (Amendment No. 3) to their Schedule 13D for UWM Holdings Corporation, dated October 1, 2024. This filing relates to the Class A Common Stock of UWM Holdings Corporation. The filing indicates a change in the date of the event requiring this filing to October 3, 2024.

Why It Matters

This amendment to a Schedule 13D filing signals a potential change in the beneficial ownership or control of UWM Holdings Corporation, which could impact the stock price and investor sentiment.

Risk Assessment

Risk Level: medium — Schedule 13D filings, especially amendments, can indicate significant changes in major shareholder positions, potentially leading to market volatility.

Key Numbers

• 0001841794-24-000031 — Accession Number (Unique identifier for this SEC filing)
• 20241003 — Filing Date (Date the filing was made with the SEC)
• 20241003 — Date of Event (Date of the event requiring the filing)

Key Players & Entities

• Mat Ishbia (person) — Filing person and authorized to receive notices
• SFS Holding Corp. (company) — Filing entity
• UWM Holdings Corporation (company) — Subject company
• Gores Holdings IV, Inc. (company) — Former company name of UWM Holdings Corporation

FAQ

Key Financial Figures

• $0.0001 — ssuer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securitie

Filing Documents

• uwm-schedule13d_axoctober1.htm (SC 13D/A) — 58KB
• 0001841794-24-000031.txt ( ) — 59KB

Security and Issuer

Item 1. Security and Issuer. This Amendment No 3 (the "Amendment") to Schedule 13D is being jointly filed by Mat Ishbia and SFS Holding Corp. ("SFS Corp." and together with Mat Ishbia, collectively referred to as the " Reporting Persons ") and relates to the Class A Common Stock, par value $0.0001 per share (the " Class A Stock "), of UWM Holdings Corporation, a Delaware corporation (the " Issuer ") and amends and supplements the initial statement on Schedule 13D filed by the Reporting Persons on February 1, 2021, as amended by Amendment No 1 filed on September 4, 2024, as amended by Amendment No 2 filed on September 18, 2024 (the Schedule 13D ) . The principal executive offices of the Issuer are located at 585 South Boulevard E, Pontiac, Michigan 48341. Unless specifically amended hereby, the disclosure set forth in the Schedule 13D shall remain unchanged. Capitalized terms used but not otherwise defined in this Amendment shall have the meanings set forth in the Schedule 13D.

Purpose of the Transaction

Item 4. Purpose of the Transaction.

of the Schedule 13D is hereby amended by the addition of the following

Item 4 of the Schedule 13D is hereby amended by the addition of the following Pursuant to the Registration Rights Agreement previously filed, the Issuer currently has in place a registration statement on Form S-3 registering for resale by SFS up to 150,000,000 shares of Class A Stock, of which 114,313,190 are currently available (the " Registration Statement "), issuable upon exchange of an equal number of Paired Interests (consisting of one share of Class D Stock of the Issuer and one Class B Unit in UWM Holdings, LLC (" Holdings LLC "), collectively a " Paired Interest ") held by SFS Corp. On October 1, 2024, SFS Corp. exchanged an aggregate of 18,644,798 Paired Interests for an equal number of Class A Stock and sold such shares of Class A Stock pursuant to the Registration Statement in a privately negotiated transaction for membership interests in a privately held limited liability company. From time to time, based on market conditions, SFS Corp. intends to sell the remaining portion of those shares of Class A Stock covered by the Registration Statement.