UWM Holdings Corp. Enters Material Definitive Agreement

TL;DR

UWM Holdings Corp. just signed a big deal, creating a new financial obligation. Details to follow.

AI Summary

On December 10, 2024, UWM Holdings Corp. entered into a material definitive agreement related to a direct financial obligation. The filing indicates the creation of a financial obligation under an off-balance sheet arrangement for the registrant. Specific details of the agreement and the financial obligation are not fully disclosed in this initial report.

Why It Matters

This filing signals a significant financial commitment or arrangement for UWM Holdings Corp., potentially impacting its balance sheet and future financial obligations.

Risk Assessment

Risk Level: medium — The creation of a new material definitive agreement and financial obligation introduces potential risks related to the terms, execution, and financial impact on the company.

Key Players & Entities

• UWM Holdings Corp. (company) — Registrant
• December 10, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — stered Class A Common Stock, par value $0.0001 per share UWMC New York Stock Exchange
• $11.50 — A Common Stock at an exercise price of $11.50 UWMCWS New York Stock Exchange Indica
• $800 million — rsuant to which UWM Holdings LLC issued $800 million aggregate principal amount of 6.625% se

Filing Documents

• xbrl-20241210.htm (8-K) — 41KB
• uwm2024-indentureversionfo.htm (EX-4.11) — 1200KB
• 0001783398-24-000053.txt ( ) — 1583KB
• xbrl-20241210.xsd (EX-101.SCH) — 2KB
• xbrl-20241210_def.xml (EX-101.DEF) — 15KB
• xbrl-20241210_lab.xml (EX-101.LAB) — 27KB
• xbrl-20241210_pre.xml (EX-101.PRE) — 16KB
• xbrl-20241210_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On December 10, 2024, subsidiaries of UWM Holdings Corporation, UWM Holdings, LLC ("UWM Holdings LLC"), as issuer, United Wholesale Mortgage, LLC ("UWM"), as guarantor, and U.S. Bank Trust Company, National Association, as trustee, executed an indenture (the "Indenture") pursuant to which UWM Holdings LLC issued $800 million aggregate principal amount of 6.625% senior unsecured notes due 2030 (the "2030 Senior Notes"). The 2030 Senior Notes have an interest coupon of 6.625% and were issued at a price of 100% of their face value. Interest on the 2030 Senior Notes is payable semi-annually on February 1 and August 1 of each year, beginning on August 1, 2025. The 2030 Senior Notes mature on February 1, 2030. UWM Holdings LLC may redeem the 2030 Senior Notes, in whole or in part, at any time during the twelve-month period beginning on the following dates at the following redemption prices: February 1, 2027 at 103.313%, February 1, 2028 at 101.656%, or February 1, 2029 until maturity at 100.000%, of the principal amount of the 2030 Senior Notes to be redeemed on the redemption date plus accrued and unpaid interest. In addition, until February 1, 2027, UWM Holdings LLC may redeem up to 40% of the aggregate principal amount of the 2030 Senior Notes with the net proceeds of certain equity offerings at a redemption price of 106.625% of the principal amount of the 2030 Senior Notes to be redeemed plus accrued and unpaid interest, if any, to the redemption date. UWM Holdings LLC may also redeem some or all of the 2030 Senior Notes at any time prior to February 1, 2027 at a redemption price equal to 100% of the principal amount of the 2030 Senior Notes to be redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to, but excluding the redemption date. The Applicable Premium means, with respect to any of the 2030 Senior Notes on any redemption date, the greater of (i) 1.0% of the principal amou

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 4.11 Indenture, dated December 10, 2024, by and between UWM Holdings, LLC, as issuer, United Wholesale Mortgage, as guarantor, and U.S. Bank Trust Company, National Association, as trustee. 4.12 Form of 6.625% Senior Notes due 2030 (included in Exhibit 4.11). 10.25 Purchase Agreement, dated December 5, 2024, among UWM Holdings, LLC and J.P. Morgan Securities LLC, as representative of the several initial purchasers listed on Schedule A thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. Date: December 16, 2024 UWM HOLDINGS CORPORATION By: /s/ Andrew Hubacker Name: Andrew Hubacker Title: Executive Vice President, Chief Financial Officer and Chief Accounting Officer