Redfin Corp

NASDAQ:RDFN   3:59:58 PM EDT
25.82
-0.82 (-3.06%)
Debt Financing / Related, Layoffs

Redfin To Acquire Bay Equity Home Loans

Published: 01/11/2022 22:26 GMT
Redfin Corp (RDFN) - Redfin to Acquire Bay Equity Home Loans.
Redfin Corp - Purchase Price is Estimated to Be $135 Million in Cash and Stock.
Redfin Corp- After Deal Closes, Bay Equity Management Team Will Continue to Operate Under Bay Equity Name.
Redfin Corp - Co Expects Acquisition to Be Accretive to 2022 Earnings per Share.
Redfin Corp- After Acquisition Closes, All Redfin Mortgage Lending Operations Will Be Consolidated Under Bay Equity.
Redfin Corp - There Are No Plans to Reduce Bay Equity Staff.
Redfin Corp- Redfin Made Decision to Eliminate 121 Redfin Mortgage Roles Primarily in Sales Support, Capital Markets and Operations.
Redfin Corp - After Deal Some Redfin Mortgage Employees, Including Redfin's Loan Officers, Will Move to Bay Equity.