Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 76

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 76
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 be approximately $2,888.6 million. Compass will have substantially increased indebtedness following completion of the merger in comparison to Compass’ historical basis, which could have the effect, among other things, of reducing Compass’ flexibility to respond to changing business and economic conditions and significantly increasing Compass’ interest expense. Compass will also incur various non-interest costs and expenses associated with such indebtedness. The amount of cash required to pay interest on Compass’ increased indebtedness levels following completion of the merger and thus the demands on Compass’ cash resources will be greater than the amount of cash flows required to service the indebtedness of Compass prior to the completion of the merger. The increased levels of indebtedness following completion of the merger could also reduce funds available for working capital, capital expenditures, acquisitions and other general corporate purposes and may create competitive disadvantages for Compass relative to other companies with lower debt levels. If Compass does not achieve the cost synergies and other anticipated benefits from the merger, or if the financial performance of the combined company does not meet current expectations, then Compass’ ability to service the combined company’s indebtedness may be adversely impacted.

In the future, Compass may need to obtain additional financing to fund the merger, working capital, capital expenditures, acquisitions or other general corporate requirements. Compass’ ability to arrange additional financing will depend on, among other factors, its financial position and performance, as well as prevailing market conditions and other factors beyond its control. There can be no assurance that Compass will be able to obtain this additional financing on acceptable terms or at all.

Additionally, the level and quality of Compass’ earnings, operations, business and management, among other things, will impact the determination of its credit ratings. A decrease in the ratings assigned to Compass by the ratings agencies may negatively impact its access to the capital markets and increase our cost of borrowing. There can be no assurance that Compass will be able to maintain the current creditworthiness or prospective credit ratings of the combined company, and any actual or anticipated changes or downgrades in such credit ratings may have a negative impact on Compass’ liquidity, capital position or access to capital markets.

Completion of the merger may trigger change in control or other provisions in certain agreements to which Anywhere is a party.

The completion of the merger may trigger change in control and other provisions in certain agreements to which Anywhere is a party. If Compass and Anywhere are unable to negotiate waivers of those provisions, the counterparties may exercise their rights and remedies under the agreements, potentially terminating the agreements or seeking monetary damages or equitable remedies. Even