M&A - CHIMERA INVESTMENT CORP
Form Type: 8-K
Filing Date: 2025-06-12
Corporate Action: Acquisition
Type: New
Accession Number: 000119312525139533
Filing Summary: On June 11, 2025, Chimera Investment Corporation entered into a Stock Purchase Agreement to acquire HomeXpress Mortgage Corp. This acquisition involves Chimera acquiring all outstanding equity interests in HX Holdco Corp., the parent company of HomeXpress, as well as certain equity interests in HomeXpress from identified sellers. Upon closing, Chimera will own 100% of HomeXpress. The purchase price includes cash equating to the adjusted book value of the target and a premium of $120 million in cash and over 2 million shares of Chimera stock. An employment agreement with HomeXpress's current CEO, Kyle Walker, ensures continuity in leadership post-acquisition. The acquisition is still subject to customary conditions and is expected to close in the fourth quarter of 2025.
Additional details:
Item 1 Date: 2025-06-11
Item 1 Transaction Type: acquisition
Item 1 Target Company: HomeXpress Mortgage Corp
Item 1 Acquisition Method: Stock Purchase Agreement
Item 1 Equity Interest Owned: 100%
Item 1 Purchase Price Cash: adjusted book value plus $120 million
Item 1 Shares Issued: 2,077,151
Item 1 Closing Conditions: Customary closing conditions include necessary filings and agreements remaining effective.
Item 1 Expected Closing Quarter: Q4 2025
Item 1 Ceo Agreement: Kyle Walker will remain as CEO post-acquisition.
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