United Wholesale Mortgage, LLC and Gores Holdings IV, Inc. Announce Closing of Business Combination - Seite 2

Alec Gores, Chairman and CEO of The Gores Group, stated, “UWM’s unparalleled market position, customized technology and deep bench of talent have brought the company to the forefront of the mortgage industry. We’re excited about this important milestone and we are confident that Mat’s exceptional leadership, along with his team’s dedication and experience, will continue to drive long-term value for all stakeholders for years to come. We look forward to UWM’s continued success as a public company as it capitalizes on the significant growth opportunities ahead.”

Transaction Details

In connection with the closing of the Business Combination, UWM has received approximately $925 million of gross proceeds which includes approximately $425 million of cash from Gores Holdings IV, as well as $500 million in proceeds from the private placement completed in connection with the Business Combination, which included top-tier institutional investors.

Upon completion of the transaction, including the private placement, the current owners of UWM will retain approximately 94% ownership of the combined company. The existing management team, led by long-standing President and CEO Mat Ishbia, will continue to lead the business.

Additional information about the completed Business Combination will be provided in a Current Report on Form 8-K to be filed by UWM Holdings Corporation with the Securities and Exchange Commission and available at sec.gov.

Advisors

Goldman Sachs & Co. LLC acted as financial advisor to UWM. Greenberg Traurig, LLP acted as legal advisor to UWM.

Deutsche Bank Securities and Morgan Stanley & Co. LLC acted as lead financial advisors, lead capital market advisors and exclusive private placement agents to Gores Holdings IV, while Moelis & Company LLC acted as financial advisor. Weil, Gotshal & Manges LLP acted as legal advisor to Gores Holdings IV.

Forward Looking Statements

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations for future financial performance, business strategies or expectations for UWM’s business, including UWM’s plans of growing the independent mortgage broker channel and becoming the nation’s leader in mortgage originations and management estimates of the size of the residential mortgage loan market. These forward-looking statements are based on UWM’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.