Company: HOUS
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001398987-25-000116
Chunk: 19

Company: Anywhere Real Estate Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1A
Chunk 19
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 A common stock may fluctuate, our stockholders cannot be sure of the market value of the consideration they will receive in exchange for their shares of our common stock in connection with the Merger.

In connection with the Merger, each share of our common stock issued and outstanding immediately prior to the effective time (other than any shares of our common stock that are owned (i) directly or indirectly, by us or by Compass or Merger Sub, or (ii) by any direct or indirect subsidiary of either us or Compass, other than Merger Sub) will be converted into the right to receive 1.436 fully paid and nonassessable shares of Compass Class A common stock (with, if applicable, cash in lieu of fractional shares). This exchange ratio is fixed and will not be adjusted for changes in the market price of either Compass Class A common stock or our common stock. Accordingly, the market value of the stock consideration that holders of our common stock will receive will vary based on the price of Compass Class A common stock at the time such holders receive the Merger consideration. The market price of Compass Class A common stock may decline after the date of this Quarterly Report on Form 10-Q.

If the Merger is completed, there will be a lapse of time between each of the date of this Quarterly Report on Form 10-Q, the date on which our stockholders vote to approve the Merger Agreement at the special meeting of our stockholders, and the date on which our stockholders entitled to receive the Merger Consideration actually receive the Merger Consideration. The market value of shares of Compass Class A common stock may decline during and after these periods as a result of a variety of factors, and consequently, at the time our stockholders must decide whether to approve the Merger Agreement, they will not know the actual market value of any Merger Consideration they will receive when the Merger is completed. The actual value of any Merger Consideration received by our stockholders at the completion of the Merger will depend on the market value of the shares of Compass Class A common stock at that time.

The market price of the common stock of the combined company may continue to fluctuate, potentially significantly, following completion of the Merger, and as a result, former stockholders of the Company could lose some or all of the value of their investment in Compass Class A common stock. The Company is not permitted to terminate the Merger Agreement as a result, in and of itself, of any increase or decrease in the