Company: TIPT
Filing Date: 2025-10-31
Form Type: 8-K
Source: 0001193125-25-259778
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Company: TIPTREE INC.
Filing Date: 2025-10-31
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On October 31, 2025, Tiptree Inc. (“ Tiptree”), entered into a Purchase Agreement, dated as of October 31, 2025 (the “ Purchase Agreement”) by and among Carrington Holding Company, LLC, as buyer (the “ Buyer”), Tiptree and Reliance Holdings LLC (“ Holdings”), a wholly owned subsidiary of Tiptree, as sellers (the “ Sellers”) and Reliance First Capital, LLC, a wholly owned subsidiary of Holdings (“ Reliance”).

Pursuant to the Purchase Agreement, the Buyer will acquire from the Sellers, pursuant to the terms of the Purchase Agreement, all of the issued and outstanding membership interests of Reliance for an amount equal, in U. S. dollars, to the sum of (a) the product of (i) the Tangible Book Value (as defined in the Purchase Agreement) of Reliance as of the closing of the Transaction and (ii) 93.50%; less (b) Transaction Expenses (as defined in the Purchase Agreement); less (c) Unpaid Taxes (as defined in the Purchase Agreement); less (d) the Specified Tax Liability (as defined in the Purchase Agreement); plus (e) the Specified Cash Amount (as defined in the Purchase Agreement) and the Cash Contribution At Closing Amount (as defined in the Purchase Agreement) (collectively, the “ Transaction”). At the closing of the Transaction, Buyer will pay, or cause to be paid, to the Sellers the Estimated Cash Payment (as defined in the Purchase Agreement), less an amount equal to the sum of (x) the Purchase Price Adjustment Holdback Amount (as defined in the Purchase Agreement) and (y) the Specified Tax Holdback Amount (as defined in the Purchase Agreement).

Closing of the Transaction is subject to customary conditions, including without limitation: (i) receipt of required regulatory approvals; and (ii) the absence of any action by any governmental authority seeking to prohibit the consummation of the Transaction. Moreover, each of Sellers’ and the Buyer’s obligation to consummate the Transaction is subject to certain other conditions, including without limitation: (x) the accuracy of the other parties’ representations and warranties contained in the Purchase Agreement (subject to certain materiality qualifiers), (y) the other parties’ compliance with its covenants and agreements contained in the Purchase Agreement in all material respects and (z) the delivery of certain deliverables enumerated in Article VI