Compass edges lower after upsized $850 mln convertible for Anywhere Real Estate merger

Compass

08/01/2026 13:49

** 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

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

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