Company: CIMO
Filing Date: 2025-10-03
Form Type: 8-K
Source: 0001193125-25-229189
Chunk: 0

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-10-03
Form: 8-K
Item: Item 2.01
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Item 2.01.      Completion of Acquisition or Disposition of Assets.  

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.

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.

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-upfor 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”). Following the Closing of the Acquisition, HomeXpress became an indirect wholly-owned subsidiary of Chimera operating under Funding TRS. The cash portion of the consideration was funded with cash on hand.

As previously announced, Kyle Walker, HomeXpress’ President and Chief Executive Officer prior to the Acquisition, executed an employment agreement to continue serving in such capacity with HomeXpress following the Closing.

In connection with the Acquisition, the compensation committee (the “ Compensation Committee”) of Chimera’s board