The biggest wholesale mortgage originator in the U.S. is merging with a special-purpose acquisition company in a deal that will take the lender public at a valuation north of $16 billion, the record for a type of deal that has become all the rage on Wall Street.
United Wholesale Mortgage plans to combine with Gores Holdings IV Inc., a SPAC that raised $425 million in a public listing in January, people familiar with the matter said. The deal will make United Wholesale Mortgage a public company listed on Nasdaq.
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This sounds like trouble the moment you read ‘blank cheque’
Sounds like a bubble waiting to burst.
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