UWM Holdings Corporation announced on October 5, 2026, that it has commenced a rights offering to raise gross proceeds of up to $400 million. The offering is being made to holders of the Company’s Class A common stock, par value $0.0001 per share, as of the record date of October 2, 2026. Each stockholder of record will receive one subscription right for every share of Class A common stock owned on that date.
Under the terms of the offering, each right entitles the holder to purchase 0.57 shares of Class A common stock. The subscription price per share is set at the greater of $2.00 or 85% of the volume-weighted average price per share during the ten consecutive trading days ending on the third trading day prior to the expiration of the offering. The rights offering is scheduled to expire at 5:00 p.m., Eastern Time, on November 12, 2026.
The Company has entered into a support and backstop agreement with SFS Group Capital, LLC, Mat Ishbia, and certain funds advised by Oaktree Capital Management, L.P. The agreement stipulates that if the rights offering does not raise the full $400 million, the Oaktree Purchasers have the option to purchase the unfunded amount, while the Ishbia Support Parties have the obligation to do so. Both parties may purchase securities in the form of Class A common stock or junior perpetual non-convertible preferred stock, along with warrants equal to 20% of the initial liquidation preference of the preferred stock.
The Company is filing an updated description of its capital stock as Exhibit 4.6 to this Current Report on Form 8-K. The offering is being made pursuant to a Registration Statement on Form S-3ASR (File No. 333-297986) that became effective on August 5, 2026.
