UWM Holdings raises $1.65B via preferred stock and warrants; plans $400M rights offering

UWM Holdings Corp

Issued 1.65M shares of Series A Preferred Stock and 330M warrants for $1.65B gross proceeds.
Series A-1 Preferred Stock (to Oaktree) has 10% cash dividend rate (13% if not paid in cash) and redemption premium up to 60%.
Rights offering to raise at least $400M from sale of 200M shares of Class A Common Stock, record date Oct 2, 2026.
Board increased to 12; Nicholas Basso (Oaktree designee) appointed as director; Dante Quazzo as board observer.
Warrants exercisable at $6.00 (Class A) and $2.00 (Class B) per share, expiring 2036, subject to anti-dilution adjustments.

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