Chimera acquires HomeXpress Mortgage; $120M cash + 2.08M shares premium, Q4 close

CHIMERA INVESTMENT CORP

Purchase price equals adjusted book value at closing plus $120M cash and 2,077,151 Chimera shares.
HomeXpress originated $2.5B UPB in 2024, $47M pre-tax net income, $115M GAAP equity at Mar 2025.
Acquisition expected to close in Q4 2025; Kyle Walker to remain CEO; accretive to 2026 earnings.
Chimera's net operating losses are expected to cover a substantial amount of the acquisition premium.
HomeXpress is a leading non-QM originator with ~300 employees, operating in 46 states plus D.C.

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