secwatch.observer — SEC 8-K summary
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Issuer:     UWM Holdings Corp (UWMC)
CIK:        0001783398
Form:       8-K
Filed at:   2026-10-05T21:20:28+00:00
Accession:  0001628280-26-065069
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

UWM launches $400M rights offering; subscription floor $2.00 vs $1.26 close, rights may not trade on NYSE
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- Rights offering offers up to 200,000,000 Class A shares to raise up to $400 million; one right per share held Oct. 2; expires 5:00 p.m. ET Nov. 12, 2026.
- Each right buys 0.57 Class A shares at the greater of $2.00 or 85% of 10-day VWAP ending three trading days before expiration.
- UWM closed at $1.26 on the record date; if the stock stays below the $2.00 minimum, the rights will not be eligible to trade on the NYSE.
- Backstop: if subscriptions don't reach $400M, Oaktree may and CEO Mat Ishbia's SFS Group must buy the unfunded amount, via Class A at subscription price or preferred plus warrants.
- Backstop purchasers may buy junior perpetual non-convertible preferred plus warrants equal to 20% of the preferred's initial liquidation preference.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1783398/000162828026065069/0001628280-26-065069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1783398/000162828026065069/xbrl-20261005.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-065069

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