BUZZ-Compass dips after announcing $750 mln convertible for Anywhere Real Estate merger

Reuters01-07

BUZZ-Compass dips after announcing $750 mln convertible for <a href="https://laohu8.com/S/HOUS">Anywhere Real Estate</a> merger

** Shares of home brokerage firm Compass COMP.N down 0.7% to $10.75 premarket as it seeks capital to fund acquisition of Anywhere Real Estate HOUS.N

** New York City-based COMP announces private offering of $750 mln convertible bonds due 2031

** COMP intends to use net offering proceeds for general purposes, including the previously announced merger with HOUS, the repayment of certain existing indebtedness of HOUS and its subsidiaries at closing of the merger, and borrowings under its rival's credit facility

** COMP also plans to use a portion of proceeds to pay cost of capped calls, derivative transactions employed to help mitigate potential dilution

** Co says it expects Q4 rev to be at the high end of previously forecasted guidance of $1.59-$1.69 bln and adj EBITDA to be at or slightly above the high end of prior guidance of $35-$49 mln

** Additionally, COMP said it added 800 principal agents in the qtr

** COMP shares, which have about $6 bln market cap, rose 81% in 2025

** HOUS shares up 7% before the bell to $15.48

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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