Rocket completes acquisition of Mr. Cooper; issues $1.69B new notes; appoints Bray and Krishna

Rocket Companies, Inc.

Mr. Cooper shareholders receive 11.00 Rocket shares per share; merger effective Oct 1, 2025.
Issued $738M 6.5% notes due 2029 and $955M 7.125% notes due 2032 via exchange offers (98.4%/95.5% participation).
Tender offers accepted $574M of 5.125% notes (88.4%) and $536M of 5.75% notes (89.3%) of Nationstar.
Revolving credit facility increased from $1.15B to $2.3B; Rocket becomes successor borrower.
Board expanded to nine; Jay Bray (ex-Mr. Cooper CEO) and Tagar Olson appointed; Varun Krishna named President effective Dec 31, 2025.

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