Compass edges lower after upsized $850 mln convertible for Anywhere Real Estate merger
Shares of home brokerage firm Compass COMP.N down 0.3% premarket to $11.80 after securing capital raise to fund acquisition of Anywhere Real Estate HOUS.N
New York City-based COMP early Thurs announced pricing private offering of $850 mln 0.25% convertible bonds due Apr 15, 2031
Initial conversion price of $15.98 set 35% above stock's last close of $11.84
COMP shares finished up 9.3% on Weds after co announced $750 mln offering for general purposes, including the previously announced merger with HOUS
Stockholders of both COMP and HOUS voted on Weds to approve the tie-up
Through Weds, COMP shares up 12% to begin the 2026 following 81% gain in 2025
HOUS shares on Weds closed up ~18% at $17.03, putting them up 20% to begin 2026. They surged 329% last year
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