Adaptimmune stock plunges after announcing Nasdaq delisting plans
Mr. Cooper Group Inc. (NASDAQ:COOP), which has seen its stock surge over 123% year-to-date according to InvestingPro data, announced Monday that its wholly owned subsidiary, Nationstar Mortgage Holdings Inc., has issued notices to redeem all of its outstanding senior notes due 2026, 2027, and 2028. The redemptions are contingent upon the completion of the previously disclosed merger with Rocket Companies, Inc. (NYSE:RKT).
According to a press release statement and SEC filing, the redemption will cover Nationstar’s 5.000% Senior Notes due 2026, 6.000% Senior Notes due 2027, and 5.500% Senior Notes due 2028. Each series will be redeemed at a price equal to 100% of the principal amount, plus any accrued and unpaid interest up to, but not including, the redemption date of October 1, 2025.
The company stated that the redemptions are subject to the satisfaction or waiver of the merger condition, which requires the completion of the merger between Mr. Cooper and Rocket Companies as outlined in the merger agreement dated March 31, 2025. If the merger is not completed by 9:00 a.m. New York City time on the redemption date, Nationstar may either reschedule the redemption or rescind the notices.
The obligations to complete the merger remain subject to regulatory approvals, approval by Mr. Cooper’s shareholders, and other customary closing conditions. If these conditions are not met, the redemptions will not occur as planned.
Mr. Cooper’s common stock is listed on the Nasdaq Stock Market under the symbol COOP. The information is based on a press release statement and an SEC filing made Monday.
In other recent news, Mr. Cooper Group Inc. reported its second-quarter 2025 earnings, which showed a mixed financial performance. The company missed its earnings per share forecast, posting $3.04 compared to the expected $3.24. However, Mr. Cooper exceeded revenue expectations with $681 million, surpassing the forecast of $677.75 million. In a significant development, Mr. Cooper stockholders approved a merger with Rocket Companies, where they will receive 11 shares of Rocket Class A common stock for each share of Mr. Cooper common stock. Additionally, Mr. Cooper may issue a $2.00 per share dividend before the merger’s completion.
The company also provided supplemental disclosures related to the merger, following shareholder lawsuits alleging misstatements in the proxy statement. Meanwhile, Rocket Companies and Mr. Cooper stocks surged following Federal Reserve Chair Jerome Powell’s comments hinting at a potential interest rate cut. The stocks also rallied after weaker-than-expected jobs data increased expectations for rate cuts, with Rocket Companies gaining 16% and Mr. Cooper rising 15%.
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