Chimera Investment Corp acquisition of HomeXpress Mortgage Corp.

Chimera Investment Corp completed its acquisition of HomeXpress Mortgage Corp. on 2025-10-01, according to the Form 8-K Chimera Investment Corp filed with the SEC on 2025-10-03. The filing states a price of $120 million.

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What the filing says

On October 1, 2025, Chimera Investment Corporation, a Maryland corporation ("Chimera"), through its wholly-owned subsidiary Chimera Funding TRS, LLC, a Delaware limited liability company ("Funding TRS"), completed the previously announced acquisition (the "Acquisition") of HomeXpress Mortgage Corp., a Delaware corporation ("HomeXpress"), pursuant to that certain Stock Purchase Agreement (the "Stock Purchase Agreement"), dated June 11, 2025 and amended as of August 5, 2025, by and among Funding TRS (as assignee of the rights and obligations of Chimera) and the Sellers referred to therein.

The price, in the filing's words

The total consideration for the Acquisition consisted of (i) $119.5 million, representing the estimated Adjusted Book Value (as defined in the Stock Purchase Agreement) as of August 31, 2025, subject to certain post-closing adjustments to true-up for the actual Adjusted Book Value as of the Closing Date as set forth in the Stock Purchase Agreement, (ii) the cash premium of $120 million, and (iii) the issuance of 2,077,151 shares of Chimera's common stock, par value $0.01 per share ("Common Stock").

More from the filing

Upon the terms and subject to the conditions of the Stock Purchase Agreement, at the closing of the transactions contemplated by the Stock Purchase Agreement (the "Closing"), Funding TRS acquired (i) all of the outstanding equity interests in HX Holdco Corp., a Delaware corporation and parent of HomeXpress ("HX Holdco"), from the Holdco Sellers (as defined in the Stock Purchase Agreement), and (ii) the remaining outstanding equity interests in HomeXpress held by the Management Sellers (as defined in the Stock Purchase Agreement).

Immediately following the Closing, Funding TRS will assign the equity interests in HomeXpress acquired from the Management Sellers to HX Holdco so that HomeXpress will be a wholly-owned subsidiary of HX Holdco.

Following the Closing of the Acquisition, HomeXpress became an indirect wholly-owned subsidiary of Chimera operating under Funding TRS.

Quoted from Chimera Investment Corp's Form 8-K.

This is the only completed acquisition Chimera Investment Corp reported under Item 2.01 in the last twelve months.

Where this comes from

A public company must file a current report on Form 8-K with the SEC within four business days of completing a significant acquisition or disposition of assets, under Item 2.01 of the report. The acquired company sometimes files one too, when the deal makes it a subsidiary of the buyer.

Every fact on this page is taken from one of those filings and linked to it: which company acquired which, the date the filing gives for completion, and the price when the filing states one in dollars, shown next to the sentence that states it. A filing states what was bought and on what terms; it rarely states why, and neither does this page.

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