UWM Holdings Corporation (UWMC)

[Golden Cross]

United Wholesale Mortgage to Go Public Via Merger With Gores SPAC

https://www.wsj.com/amp/articles/united-wholesale-mortgage-to-go-public-via-merger-with-gores-spac-11600828200

Deal will take the lender public at valuation above $16 billion
The Fed has taken aggressive steps to cushion the economy from the effects of the pandemic, sparking a surge in homebuying and mortgage refinancing.
The Fed has taken aggressive steps to cushion the economy from the effects of the pandemic, sparking a surge in homebuying and mortgage refinancing.


By Maureen Farrell
Sept. 22, 2020 10:30 pm ET
The biggest wholesale mortgage originator in the U.S. is merging with a special-purpose acquisition company in a deal that will take the lender public at a valuation north of $16 billion, the record for a type of deal that has become all the rage on Wall Street.

United Wholesale Mortgage plans to combine with Gores Holdings IV Inc., a SPAC that raised $425 million in a public listing in January, people familiar with the matter said. The deal will make United Wholesale Mortgage a public company listed on Nasdaq.