[FWP] Bank of America Corporation Free Writing Prospectus
Rocket Companies, Inc. (NYSE: RKT) has filed an automatic shelf registration statement (Form S-3ASR) to cover up to 104,519 shares of its Class A common stock. The filing is strictly administrative and relates to the July 1, 2025 closing of Rocket鈥檚 all-stock acquisition of Redfin Corporation. At the effective time of the merger, Rocket assumed outstanding Redfin stock options granted under Redfin鈥檚 2004 Equity Incentive Plan; this registration statement allows those options鈥攏ow convertible into Rocket shares鈥攖o be exercised and the resulting shares to be freely resold.
Key elements of the prospectus
- Only 104,519 new shares are being registered, representing <~0.07% of Rocket鈥檚 151.5 million Class A shares outstanding; any dilution is therefore de-minimis.
- The company will receive cash proceeds only if former Redfin optionees exercise with cash; any such proceeds will be used for unspecified general corporate purposes.
- Rocket remains a large accelerated filer and the registration becomes automatically effective under Rule 462(e), giving the company flexibility to issue the covered shares without further SEC review.
- A detailed risk-factor section reiterates existing macro, interest-rate, cybersecurity, AI-regulatory and concentration-of-control risks, and highlights integration execution risks for both the Redfin and pending Mr. Cooper acquisitions.
- The filing leaves Rocket鈥檚 dual-class share structure intact; founder Dan Gilbert continues to hold majority voting control through Class L shares.
This registration does not raise new capital, change capital structure, or alter strategic guidance; it simply completes a technical requirement tied to the Redfin deal and keeps Rocket in compliance with SEC resale rules for assumed employee equity awards.
Rocket Companies, Inc. (NYSE: RKT) ha depositato una dichiarazione di registrazione automatica (Modulo S-3ASR) per coprire fino a 104.519 azioni della sua azione ordinaria di Classe A. La presentazione 猫 di natura strettamente amministrativa e riguarda la chiusura, prevista per il 1掳 luglio 2025, dell'acquisizione interamente azionaria di Redfin Corporation da parte di Rocket. Al momento dell'efficacia della fusione, Rocket ha assunto le opzioni su azioni Redfin in essere, concesse ai sensi del Piano di Incentivi Azionari 2004 di Redfin; questa dichiarazione di registrazione consente l'esercizio di tali opzioni 鈥� ora convertibili in azioni Rocket 鈥� e la libera rivendita delle azioni risultanti.
Elementi chiave del prospetto
- Vengono registrate solo 104.519 nuove azioni, rappresentanti circa lo 0,07% delle 151,5 milioni di azioni di Classe A in circolazione di Rocket; qualsiasi diluizione 猫 quindi trascurabile.
- L'azienda ricever脿 proventi in contanti solo se gli ex titolari di opzioni Redfin eserciteranno con pagamento in contanti; tali proventi saranno utilizzati per scopi generali aziendali non specificati.
- Rocket mantiene lo status di large accelerated filer e la registrazione diventa automaticamente efficace ai sensi della Regola 462(e), garantendo alla societ脿 la flessibilit脿 di emettere le azioni coperte senza ulteriore revisione da parte della SEC.
- Una sezione dettagliata sui fattori di rischio ribadisce i rischi macroeconomici, relativi ai tassi di interesse, alla sicurezza informatica, alla regolamentazione dell'intelligenza artificiale e alla concentrazione del controllo, evidenziando inoltre i rischi di integrazione sia per l'acquisizione di Redfin sia per quella in corso di Mr. Cooper.
- La presentazione mantiene intatta la struttura azionaria a doppia classe di Rocket; il fondatore Dan Gilbert continua a detenere il controllo maggioritario di voto tramite le azioni di Classe L.
Questa registrazione non comporta l'emissione di nuovo capitale, non modifica la struttura del capitale n茅 altera le indicazioni strategiche; si tratta semplicemente di un adempimento tecnico legato all'accordo con Redfin e garantisce la conformit脿 di Rocket alle norme SEC sulla rivendita per le azioni azionarie assegnate ai dipendenti.
Rocket Companies, Inc. (NYSE: RKT) ha presentado una declaraci贸n de registro autom谩tico (Formulario S-3ASR) para cubrir hasta 104.519 acciones de su acci贸n ordinaria Clase A. La presentaci贸n es estrictamente administrativa y est谩 relacionada con el cierre, previsto para el 1 de julio de 2025, de la adquisici贸n totalmente en acciones de Redfin Corporation por parte de Rocket. En el momento en que la fusi贸n sea efectiva, Rocket asumir谩 las opciones de acciones pendientes de Redfin otorgadas bajo el Plan de Incentivos de Capital 2004 de Redfin; esta declaraci贸n de registro permite que esas opciones 鈥� ahora convertibles en acciones de Rocket 鈥� sean ejercidas y que las acciones resultantes puedan ser revendidas libremente.
Elementos clave del prospecto
- Solo se registran 104.519 nuevas acciones, que representan aproximadamente el 0,07% de las 151,5 millones de acciones Clase A en circulaci贸n de Rocket; por lo tanto, cualquier diluci贸n es insignificante.
- La compa帽铆a recibir谩 ingresos en efectivo solo si los antiguos tenedores de opciones de Redfin ejercen con efectivo; dichos ingresos se utilizar谩n para fines corporativos generales no especificados.
- Rocket sigue siendo un presentador acelerado grande y el registro se vuelve autom谩ticamente efectivo bajo la Regla 462(e), lo que le da a la compa帽铆a flexibilidad para emitir las acciones cubiertas sin revisi贸n adicional de la SEC.
- Una secci贸n detallada de factores de riesgo reitera riesgos macroecon贸micos, de tasas de inter茅s, ciberseguridad, regulaci贸n de IA y concentraci贸n de control, y destaca riesgos de ejecuci贸n de integraci贸n tanto para las adquisiciones de Redfin como para la pendiente de Mr. Cooper.
- La presentaci贸n mantiene intacta la estructura de acciones de doble clase de Rocket; el fundador Dan Gilbert contin煤a teniendo el control mayoritario de voto a trav茅s de las acciones Clase L.
Este registro no genera nuevo capital, no cambia la estructura de capital ni altera la orientaci贸n estrat茅gica; simplemente cumple un requisito t茅cnico vinculado al acuerdo con Redfin y mantiene a Rocket en cumplimiento con las reglas de reventa de la SEC para las concesiones de capital asumidas de empleados.
Rocket Companies, Inc. (NYSE: RKT)電� 斓滊寑 104,519欤检潣 韥措灅鞀� A 氤错喌欤茧ゼ 韽暔頃橂姅 鞛愲彊 靹犽皹 霌彪 氇呾劯靹�(Form S-3ASR)毳� 鞝滌稖頄堨姷雼堧嫟. 鞚� 鞝滌稖鞚� 鞐勱博頌� 頄夓爼鞝侅澑 瓴冹溂搿�, 2025雲� 7鞗� 1鞚检棎 鞓堨爼霅� Rocket鞚� 鞝勳暋 欤检嫕 鞚胳垬 氚╈嫕鞚� Redfin Corporation 鞚胳垬 膦呺鞕� 甏�霠澊 鞛堨姷雼堧嫟. 頃╇硲 氚滍毃 鞁滌爯鞐� 搁辞肠办别迟鞚赌 Redfin鞚� 2004雲� 欤检嫕 鞚胳劶韹半笇 瓿勴殟鞐� 霐半澕 攵�鞐悳 氙戈舶鞝� Redfin 欤检嫕 鞓奠厴鞚� 鞚胳垬頃橃榾鞙茧┌, 鞚� 霌彪 氇呾劯靹滊姅 鞚挫牅 Rocket 欤检嫕鞙茧 鞝勴櫂 臧�電ロ暅 頃措嫻 鞓奠厴鞚� 頄夓偓頃橁碃 瓴瓣臣搿� 靸濌复 欤检嫕鞚� 鞛愳湢搿矊 鞛寪毵ろ暊 靾� 鞛堧弰搿� 頃╇媹雼�.
韴瀽靹る獏靹� 欤检殧 雮挫毄
- 霌彪霅橂姅 鞁犼窚 欤检嫕鞚� 104,519欤检棎 攵堦臣頃橂┌, 鞚措姅 Rocket鞚� 1鞏� 5,150毵� 韥措灅鞀� A 欤检嫕鞚� 鞎� 0.07%鞐� 頃措嫻頃橂瘈搿� 頋劃 須臣電� 氙鸽頃╇媹雼�.
- 須岇偓電� 鞚挫爠 Redfin 鞓奠厴 氤挫湢鞛愱皜 順勱笀鞙茧 頄夓偓頃橂姅 瓴届毎鞐愲 順勱笀 靾橃澋鞚� 氚涭溂氅�, 鞚措煬頃� 靾橃澋鞚� 韸轨爼霅橃 鞎婌潃 鞚茧皹 旮办梾 氇╈爜鞐� 靷毄霅� 鞓堨爼鞛呺媹雼�.
- 搁辞肠办别迟鞚赌 雽�順� 臧�靻� 鞁犼碃鞛�(large accelerated filer) 歆�鞙勲ゼ 鞙犾頃橂┌, 鞚� 霌彪鞚� 攴滌箼 462(e)鞐� 霐半澕 鞛愲彊鞙茧 須牓鞚� 氚滌儩頃橃棳 於旉皜 SEC 瓴�韱� 鞐嗢澊 頃措嫻 欤检嫕鞚� 氚滍枆頃� 靾� 鞛堧姅 鞙犾棸靹膘潉 鞝滉车頃╇媹雼�.
- 靸侅劯頃� 鞙勴棙 鞖旍唽 靹轨厴鞐愳劀電� 旮办〈鞚� 瓯办嫓瓴届牅, 旮堧Μ, 靷澊氩� 氤挫晥, AI 攴滌牅 氚� 歆�氚瓣惮臁� 歆戩 鞙勴棙鞚� 鞛檿鞚疙晿瓿�, Redfin 氚� 歆勴枆 欷戩澑 Mr. Cooper 鞚胳垬 韱淀暕 鞁ろ枆 鞙勴棙鞚� 臧曥“頃╇媹雼�.
- 霌彪鞚� Rocket鞚� 鞚挫 韥措灅鞀� 欤检嫕 甑“毳� 鞙犾頃橂┌, 彀诫鞛� Dan Gilbert電� 韥措灅鞀� L 欤检嫕鞚� 韱淀暣 鞐爠頌� 瓿茧皹靾� 鞚橁舶甓岇潉 氤挫湢頃╇媹雼�.
鞚措矆 霌彪鞚� 鞁犼窚 鞛愲掣鞚� 臁半嫭頃橁卑雮� 鞛愲掣 甑“毳� 氤�瓴巾晿瓯半倶 鞝勲灥鞝� 歆�旃潉 氤�瓴巾晿歆� 鞎婌溂氅�, 雼 Redfin 瓯半灅鞕� 甏�霠悳 旮办垹鞝� 鞖旉贝鞚� 鞕勲頃橁碃 Rocket鞚� 鞚胳垬頃� 歆侅洂 欤检嫕 氤挫儊鞐� 雽�頃� SEC 鞛寪毵� 攴滌爼鞚� 欷�靾橅晿霃勲 頃橂姅 瓴冹瀰雼堧嫟.
Rocket Companies, Inc. (NYSE : RKT) a d茅pos茅 une d茅claration d'enregistrement automatique (Formulaire S-3ASR) pour couvrir jusqu'脿 104 519 actions de ses actions ordinaires de Classe A. Le d茅p么t est strictement administratif et concerne la cl么ture, pr茅vue le 1er juillet 2025, de l'acquisition enti猫rement en actions de Redfin Corporation par Rocket. Au moment de l'entr茅e en vigueur de la fusion, Rocket a repris les options d'achat d'actions Redfin en circulation, accord茅es dans le cadre du Plan d'incitation au capital de 2004 de Redfin ; cette d茅claration d'enregistrement permet l'exercice de ces options 鈥� d茅sormais convertibles en actions Rocket 鈥� et la revente libre des actions r茅sultantes.
Points cl茅s du prospectus
- Seules 104 519 nouvelles actions sont enregistr茅es, repr茅sentant environ 0,07 % des 151,5 millions d'actions Classe A en circulation de Rocket ; toute dilution est donc n茅gligeable.
- La soci茅t茅 ne recevra des produits en esp猫ces que si les anciens b茅n茅ficiaires des options Redfin exercent leurs options en esp猫ces ; ces produits seront utilis茅s 脿 des fins g茅n茅rales non sp茅cifi茅es.
- Rocket reste un d茅posant acc茅l茅r茅 important et l'enregistrement devient automatiquement effectif en vertu de la r猫gle 462(e), offrant 脿 la soci茅t茅 la flexibilit茅 d'茅mettre les actions couvertes sans examen suppl茅mentaire de la SEC.
- Une section d茅taill茅e sur les facteurs de risque rappelle les risques macro茅conomiques, li茅s aux taux d'int茅r锚t, 脿 la cybers茅curit茅, 脿 la r茅glementation de l'IA et 脿 la concentration du contr么le, et met en 茅vidence les risques d'ex茅cution li茅s 脿 l'int茅gration des acquisitions de Redfin et de Mr. Cooper en attente.
- Le d茅p么t maintient la structure d'actions 脿 double cat茅gorie de Rocket intacte ; le fondateur Dan Gilbert conserve le contr么le majoritaire des droits de vote via les actions de Classe L.
Cette d茅claration d'enregistrement ne g茅n猫re pas de nouveau capital, ne modifie pas la structure du capital et n'alt猫re pas les orientations strat茅giques ; elle se limite 脿 satisfaire une exigence technique li茅e 脿 l'accord avec Redfin et garantit que Rocket reste en conformit茅 avec les r猫gles de revente de la SEC pour les attributions d'actions des employ茅s reprises.
Rocket Companies, Inc. (NYSE: RKT) hat eine automatische Shelf-Registrierungserkl盲rung (Formular S-3ASR) f眉r bis zu 104.519 Aktien seiner Klasse-A-Stammaktien eingereicht. Die Einreichung ist rein administrativ und steht im Zusammenhang mit dem Abschluss der vollst盲ndigen Aktientransaktion zur 脺bernahme von Redfin Corporation durch Rocket am 1. Juli 2025. Zum Zeitpunkt des Wirksamwerdens der Fusion hat Rocket ausstehende Redfin-Aktienoptionen, die im Rahmen des Equity Incentive Plans von Redfin aus dem Jahr 2004 gew盲hrt wurden, 眉bernommen; diese Registrierungserkl盲rung erm枚glicht es, diese Optionen 鈥� die nun in Rocket-Aktien umwandelbar sind 鈥� auszu眉ben und die daraus resultierenden Aktien frei weiterzuverkaufen.
Wesentliche Elemente des Prospekts
- Es werden lediglich 104.519 neue Aktien registriert, was etwa 0,07 % der 151,5 Millionen ausstehenden Klasse-A-Aktien von Rocket entspricht; eine Verw盲sserung ist daher vernachl盲ssigbar.
- Das Unternehmen erh盲lt nur dann Bareinnahmen, wenn ehemalige Redfin-Optionsinhaber ihre Optionen bar aus眉ben; diese Einnahmen werden f眉r nicht n盲her bezeichnete allgemeine Unternehmenszwecke verwendet.
- Rocket bleibt ein Large Accelerated Filer, und die Registrierung wird gem盲脽 Regel 462(e) automatisch wirksam, was dem Unternehmen Flexibilit盲t gibt, die registrierten Aktien ohne weitere SEC-Pr眉fung auszugeben.
- Ein ausf眉hrlicher Abschnitt zu Risikofaktoren wiederholt bestehende makro枚konomische Risiken, Zinsrisiken, Cybersecurity-, KI-Regulierungs- und Kontrollkonzentrationsrisiken und hebt Integrationsrisiken bei den 脺bernahmen von Redfin und Mr. Cooper hervor.
- Die Einreichung bel盲sst die duale Aktienstruktur von Rocket unver盲ndert; Gr眉nder Dan Gilbert beh盲lt die Mehrheitskontrolle 眉ber die stimmberechtigten Klasse-L-Aktien.
Diese Registrierung f眉hrt nicht zu neuem Kapital, 盲ndert die Kapitalstruktur nicht und 盲ndert auch nicht die strategische Ausrichtung; sie erf眉llt lediglich eine technische Anforderung im Zusammenhang mit dem Redfin-Deal und stellt sicher, dass Rocket die SEC-Weiterverkaufsregeln f眉r 眉bernommene Mitarbeiteraktienpr盲mien einh盲lt.
- Redfin acquisition officially closed, removing transaction-completion uncertainty and allowing integration to commence.
- Immaterial dilution: only 104,519 additional shares (<~0.07% of Class A) are being registered.
- Automatic shelf provides flexibility for Rocket to quickly facilitate option exercises without further SEC clearance.
- Persistent concentration of control: Dan Gilbert鈥檚 majority voting power and extended lock-ups remain unchanged.
- No incremental financial guidance or quantified synergy targets provided, offering limited insight into Redfin integration benefits.
Insights
TL;DR 鈥� Routine shelf to register 104.5k shares; immaterial dilution, signals Redfin deal closing.
From a capital-markets perspective, this Form S-3ASR is largely housekeeping. The 104,519 shares equate to roughly 0.07 % of Class A shares outstanding and less than 0.005 % of fully diluted shares when Class L is included鈥攆ar below materiality thresholds for valuation models. Cash proceeds, if any, will be nominal and classified as operating cash inflow.
The more consequential datapoint is confirmation that the Redfin acquisition legally closed on July 1. Investors can now shift focus from transaction risk to integration execution. Management gains additional flexibility because an automatic shelf permits rapid issuance of registered securities in future if needed.
Risk language is expansive, echoing prior filings, and underscores integration, rate-sensitivity and Dan Gilbert control issues. No financial forecasts or updated synergy targets are provided, so there is no new information to adjust earnings estimates. Overall impact is neutral.
TL;DR 鈥� Filing formalizes employee-equity transition; control profile and dual-class issues persist.
The S-3ASR ensures that legacy Redfin employees can lawfully exercise their rollover options, aligning incentives post-merger. While administratively sound, the prospectus restates a governance framework dominated by founder Dan Gilbert鈥擟lass L shares can wield up to 79 % of voting power, and lock-ups extend through 2027. Such concentration may deter activist influence and prolong controlled-company exemptions on NYSE governance rules.
The document also embeds anti-takeover provisions (classified board, super-majority by-law amendments, Detroit HQ restriction) that reduce hostile-bid optionality. From a governance-risk lens, investors should weigh the benefits of strategic continuity against limited minority influence. Because these terms mirror prior disclosures, they do not shift risk, leaving the impact neutral.
Rocket Companies, Inc. (NYSE: RKT) ha depositato una dichiarazione di registrazione automatica (Modulo S-3ASR) per coprire fino a 104.519 azioni della sua azione ordinaria di Classe A. La presentazione 猫 di natura strettamente amministrativa e riguarda la chiusura, prevista per il 1掳 luglio 2025, dell'acquisizione interamente azionaria di Redfin Corporation da parte di Rocket. Al momento dell'efficacia della fusione, Rocket ha assunto le opzioni su azioni Redfin in essere, concesse ai sensi del Piano di Incentivi Azionari 2004 di Redfin; questa dichiarazione di registrazione consente l'esercizio di tali opzioni 鈥� ora convertibili in azioni Rocket 鈥� e la libera rivendita delle azioni risultanti.
Elementi chiave del prospetto
- Vengono registrate solo 104.519 nuove azioni, rappresentanti circa lo 0,07% delle 151,5 milioni di azioni di Classe A in circolazione di Rocket; qualsiasi diluizione 猫 quindi trascurabile.
- L'azienda ricever脿 proventi in contanti solo se gli ex titolari di opzioni Redfin eserciteranno con pagamento in contanti; tali proventi saranno utilizzati per scopi generali aziendali non specificati.
- Rocket mantiene lo status di large accelerated filer e la registrazione diventa automaticamente efficace ai sensi della Regola 462(e), garantendo alla societ脿 la flessibilit脿 di emettere le azioni coperte senza ulteriore revisione da parte della SEC.
- Una sezione dettagliata sui fattori di rischio ribadisce i rischi macroeconomici, relativi ai tassi di interesse, alla sicurezza informatica, alla regolamentazione dell'intelligenza artificiale e alla concentrazione del controllo, evidenziando inoltre i rischi di integrazione sia per l'acquisizione di Redfin sia per quella in corso di Mr. Cooper.
- La presentazione mantiene intatta la struttura azionaria a doppia classe di Rocket; il fondatore Dan Gilbert continua a detenere il controllo maggioritario di voto tramite le azioni di Classe L.
Questa registrazione non comporta l'emissione di nuovo capitale, non modifica la struttura del capitale n茅 altera le indicazioni strategiche; si tratta semplicemente di un adempimento tecnico legato all'accordo con Redfin e garantisce la conformit脿 di Rocket alle norme SEC sulla rivendita per le azioni azionarie assegnate ai dipendenti.
Rocket Companies, Inc. (NYSE: RKT) ha presentado una declaraci贸n de registro autom谩tico (Formulario S-3ASR) para cubrir hasta 104.519 acciones de su acci贸n ordinaria Clase A. La presentaci贸n es estrictamente administrativa y est谩 relacionada con el cierre, previsto para el 1 de julio de 2025, de la adquisici贸n totalmente en acciones de Redfin Corporation por parte de Rocket. En el momento en que la fusi贸n sea efectiva, Rocket asumir谩 las opciones de acciones pendientes de Redfin otorgadas bajo el Plan de Incentivos de Capital 2004 de Redfin; esta declaraci贸n de registro permite que esas opciones 鈥� ahora convertibles en acciones de Rocket 鈥� sean ejercidas y que las acciones resultantes puedan ser revendidas libremente.
Elementos clave del prospecto
- Solo se registran 104.519 nuevas acciones, que representan aproximadamente el 0,07% de las 151,5 millones de acciones Clase A en circulaci贸n de Rocket; por lo tanto, cualquier diluci贸n es insignificante.
- La compa帽铆a recibir谩 ingresos en efectivo solo si los antiguos tenedores de opciones de Redfin ejercen con efectivo; dichos ingresos se utilizar谩n para fines corporativos generales no especificados.
- Rocket sigue siendo un presentador acelerado grande y el registro se vuelve autom谩ticamente efectivo bajo la Regla 462(e), lo que le da a la compa帽铆a flexibilidad para emitir las acciones cubiertas sin revisi贸n adicional de la SEC.
- Una secci贸n detallada de factores de riesgo reitera riesgos macroecon贸micos, de tasas de inter茅s, ciberseguridad, regulaci贸n de IA y concentraci贸n de control, y destaca riesgos de ejecuci贸n de integraci贸n tanto para las adquisiciones de Redfin como para la pendiente de Mr. Cooper.
- La presentaci贸n mantiene intacta la estructura de acciones de doble clase de Rocket; el fundador Dan Gilbert contin煤a teniendo el control mayoritario de voto a trav茅s de las acciones Clase L.
Este registro no genera nuevo capital, no cambia la estructura de capital ni altera la orientaci贸n estrat茅gica; simplemente cumple un requisito t茅cnico vinculado al acuerdo con Redfin y mantiene a Rocket en cumplimiento con las reglas de reventa de la SEC para las concesiones de capital asumidas de empleados.
Rocket Companies, Inc. (NYSE: RKT)電� 斓滊寑 104,519欤检潣 韥措灅鞀� A 氤错喌欤茧ゼ 韽暔頃橂姅 鞛愲彊 靹犽皹 霌彪 氇呾劯靹�(Form S-3ASR)毳� 鞝滌稖頄堨姷雼堧嫟. 鞚� 鞝滌稖鞚� 鞐勱博頌� 頄夓爼鞝侅澑 瓴冹溂搿�, 2025雲� 7鞗� 1鞚检棎 鞓堨爼霅� Rocket鞚� 鞝勳暋 欤检嫕 鞚胳垬 氚╈嫕鞚� Redfin Corporation 鞚胳垬 膦呺鞕� 甏�霠澊 鞛堨姷雼堧嫟. 頃╇硲 氚滍毃 鞁滌爯鞐� 搁辞肠办别迟鞚赌 Redfin鞚� 2004雲� 欤检嫕 鞚胳劶韹半笇 瓿勴殟鞐� 霐半澕 攵�鞐悳 氙戈舶鞝� Redfin 欤检嫕 鞓奠厴鞚� 鞚胳垬頃橃榾鞙茧┌, 鞚� 霌彪 氇呾劯靹滊姅 鞚挫牅 Rocket 欤检嫕鞙茧 鞝勴櫂 臧�電ロ暅 頃措嫻 鞓奠厴鞚� 頄夓偓頃橁碃 瓴瓣臣搿� 靸濌复 欤检嫕鞚� 鞛愳湢搿矊 鞛寪毵ろ暊 靾� 鞛堧弰搿� 頃╇媹雼�.
韴瀽靹る獏靹� 欤检殧 雮挫毄
- 霌彪霅橂姅 鞁犼窚 欤检嫕鞚� 104,519欤检棎 攵堦臣頃橂┌, 鞚措姅 Rocket鞚� 1鞏� 5,150毵� 韥措灅鞀� A 欤检嫕鞚� 鞎� 0.07%鞐� 頃措嫻頃橂瘈搿� 頋劃 須臣電� 氙鸽頃╇媹雼�.
- 須岇偓電� 鞚挫爠 Redfin 鞓奠厴 氤挫湢鞛愱皜 順勱笀鞙茧 頄夓偓頃橂姅 瓴届毎鞐愲 順勱笀 靾橃澋鞚� 氚涭溂氅�, 鞚措煬頃� 靾橃澋鞚� 韸轨爼霅橃 鞎婌潃 鞚茧皹 旮办梾 氇╈爜鞐� 靷毄霅� 鞓堨爼鞛呺媹雼�.
- 搁辞肠办别迟鞚赌 雽�順� 臧�靻� 鞁犼碃鞛�(large accelerated filer) 歆�鞙勲ゼ 鞙犾頃橂┌, 鞚� 霌彪鞚� 攴滌箼 462(e)鞐� 霐半澕 鞛愲彊鞙茧 須牓鞚� 氚滌儩頃橃棳 於旉皜 SEC 瓴�韱� 鞐嗢澊 頃措嫻 欤检嫕鞚� 氚滍枆頃� 靾� 鞛堧姅 鞙犾棸靹膘潉 鞝滉车頃╇媹雼�.
- 靸侅劯頃� 鞙勴棙 鞖旍唽 靹轨厴鞐愳劀電� 旮办〈鞚� 瓯办嫓瓴届牅, 旮堧Μ, 靷澊氩� 氤挫晥, AI 攴滌牅 氚� 歆�氚瓣惮臁� 歆戩 鞙勴棙鞚� 鞛檿鞚疙晿瓿�, Redfin 氚� 歆勴枆 欷戩澑 Mr. Cooper 鞚胳垬 韱淀暕 鞁ろ枆 鞙勴棙鞚� 臧曥“頃╇媹雼�.
- 霌彪鞚� Rocket鞚� 鞚挫 韥措灅鞀� 欤检嫕 甑“毳� 鞙犾頃橂┌, 彀诫鞛� Dan Gilbert電� 韥措灅鞀� L 欤检嫕鞚� 韱淀暣 鞐爠頌� 瓿茧皹靾� 鞚橁舶甓岇潉 氤挫湢頃╇媹雼�.
鞚措矆 霌彪鞚� 鞁犼窚 鞛愲掣鞚� 臁半嫭頃橁卑雮� 鞛愲掣 甑“毳� 氤�瓴巾晿瓯半倶 鞝勲灥鞝� 歆�旃潉 氤�瓴巾晿歆� 鞎婌溂氅�, 雼 Redfin 瓯半灅鞕� 甏�霠悳 旮办垹鞝� 鞖旉贝鞚� 鞕勲頃橁碃 Rocket鞚� 鞚胳垬頃� 歆侅洂 欤检嫕 氤挫儊鞐� 雽�頃� SEC 鞛寪毵� 攴滌爼鞚� 欷�靾橅晿霃勲 頃橂姅 瓴冹瀰雼堧嫟.
Rocket Companies, Inc. (NYSE : RKT) a d茅pos茅 une d茅claration d'enregistrement automatique (Formulaire S-3ASR) pour couvrir jusqu'脿 104 519 actions de ses actions ordinaires de Classe A. Le d茅p么t est strictement administratif et concerne la cl么ture, pr茅vue le 1er juillet 2025, de l'acquisition enti猫rement en actions de Redfin Corporation par Rocket. Au moment de l'entr茅e en vigueur de la fusion, Rocket a repris les options d'achat d'actions Redfin en circulation, accord茅es dans le cadre du Plan d'incitation au capital de 2004 de Redfin ; cette d茅claration d'enregistrement permet l'exercice de ces options 鈥� d茅sormais convertibles en actions Rocket 鈥� et la revente libre des actions r茅sultantes.
Points cl茅s du prospectus
- Seules 104 519 nouvelles actions sont enregistr茅es, repr茅sentant environ 0,07 % des 151,5 millions d'actions Classe A en circulation de Rocket ; toute dilution est donc n茅gligeable.
- La soci茅t茅 ne recevra des produits en esp猫ces que si les anciens b茅n茅ficiaires des options Redfin exercent leurs options en esp猫ces ; ces produits seront utilis茅s 脿 des fins g茅n茅rales non sp茅cifi茅es.
- Rocket reste un d茅posant acc茅l茅r茅 important et l'enregistrement devient automatiquement effectif en vertu de la r猫gle 462(e), offrant 脿 la soci茅t茅 la flexibilit茅 d'茅mettre les actions couvertes sans examen suppl茅mentaire de la SEC.
- Une section d茅taill茅e sur les facteurs de risque rappelle les risques macro茅conomiques, li茅s aux taux d'int茅r锚t, 脿 la cybers茅curit茅, 脿 la r茅glementation de l'IA et 脿 la concentration du contr么le, et met en 茅vidence les risques d'ex茅cution li茅s 脿 l'int茅gration des acquisitions de Redfin et de Mr. Cooper en attente.
- Le d茅p么t maintient la structure d'actions 脿 double cat茅gorie de Rocket intacte ; le fondateur Dan Gilbert conserve le contr么le majoritaire des droits de vote via les actions de Classe L.
Cette d茅claration d'enregistrement ne g茅n猫re pas de nouveau capital, ne modifie pas la structure du capital et n'alt猫re pas les orientations strat茅giques ; elle se limite 脿 satisfaire une exigence technique li茅e 脿 l'accord avec Redfin et garantit que Rocket reste en conformit茅 avec les r猫gles de revente de la SEC pour les attributions d'actions des employ茅s reprises.
Rocket Companies, Inc. (NYSE: RKT) hat eine automatische Shelf-Registrierungserkl盲rung (Formular S-3ASR) f眉r bis zu 104.519 Aktien seiner Klasse-A-Stammaktien eingereicht. Die Einreichung ist rein administrativ und steht im Zusammenhang mit dem Abschluss der vollst盲ndigen Aktientransaktion zur 脺bernahme von Redfin Corporation durch Rocket am 1. Juli 2025. Zum Zeitpunkt des Wirksamwerdens der Fusion hat Rocket ausstehende Redfin-Aktienoptionen, die im Rahmen des Equity Incentive Plans von Redfin aus dem Jahr 2004 gew盲hrt wurden, 眉bernommen; diese Registrierungserkl盲rung erm枚glicht es, diese Optionen 鈥� die nun in Rocket-Aktien umwandelbar sind 鈥� auszu眉ben und die daraus resultierenden Aktien frei weiterzuverkaufen.
Wesentliche Elemente des Prospekts
- Es werden lediglich 104.519 neue Aktien registriert, was etwa 0,07 % der 151,5 Millionen ausstehenden Klasse-A-Aktien von Rocket entspricht; eine Verw盲sserung ist daher vernachl盲ssigbar.
- Das Unternehmen erh盲lt nur dann Bareinnahmen, wenn ehemalige Redfin-Optionsinhaber ihre Optionen bar aus眉ben; diese Einnahmen werden f眉r nicht n盲her bezeichnete allgemeine Unternehmenszwecke verwendet.
- Rocket bleibt ein Large Accelerated Filer, und die Registrierung wird gem盲脽 Regel 462(e) automatisch wirksam, was dem Unternehmen Flexibilit盲t gibt, die registrierten Aktien ohne weitere SEC-Pr眉fung auszugeben.
- Ein ausf眉hrlicher Abschnitt zu Risikofaktoren wiederholt bestehende makro枚konomische Risiken, Zinsrisiken, Cybersecurity-, KI-Regulierungs- und Kontrollkonzentrationsrisiken und hebt Integrationsrisiken bei den 脺bernahmen von Redfin und Mr. Cooper hervor.
- Die Einreichung bel盲sst die duale Aktienstruktur von Rocket unver盲ndert; Gr眉nder Dan Gilbert beh盲lt die Mehrheitskontrolle 眉ber die stimmberechtigten Klasse-L-Aktien.
Diese Registrierung f眉hrt nicht zu neuem Kapital, 盲ndert die Kapitalstruktur nicht und 盲ndert auch nicht die strategische Ausrichtung; sie erf眉llt lediglich eine technische Anforderung im Zusammenhang mit dem Redfin-Deal und stellt sicher, dass Rocket die SEC-Weiterverkaufsregeln f眉r 眉bernommene Mitarbeiteraktienpr盲mien einh盲lt.
BofA Finance LLC
Fully and Unconditionally Guaranteed by Bank of America Corporation
Market Linked Securities |
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Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside
Principal at Risk Securities Linked to the Common Stock of Lockheed Martin Corporation due July 22, 2027 Term Sheet to Preliminary Pricing Supplement dated July 1, 2025 |
Issuer and Guarantor: |
BofA Finance LLC (“BofA Finance” or “Issuer”) and Bank of America Corporation (“BAC” or the “Guarantor”) |
Underlying Stock: |
The common stock of Lockheed Martin Corporation |
Pricing Date*: |
July 18, 2025 |
Issue Date*: |
July 23, 2025 |
Maturity Date*: |
July 22, 2027 |
Denominations: |
$1,000 and any integral multiple of $1,000. |
Automatic Call: |
If the stock closing price of the Underlying Stock on any Call Date is greater than or equal to the Starting Price, the Securities will be automatically called for the principal amount plus the Call Premium applicable to that Call Date. |
Call Dates* and Call Premiums: |
Call Date
Call Premium†
July 23, 2026
At least 12.60% of the principal amount
January 25, 2027
At least 18.90% of the principal amount
July 19, 2027 (the “Final Calculation Day”)
At least 25.20% of the principal amount
† to be determined on the Pricing Date.
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Call Settlement Date: |
Three business days after the applicable Call Date. |
Maturity Payment Amount (per Security): |
If the Securities are not automatically called, you will receive a Maturity Payment Amount that could be equal to or less than the principal amount per Security, determined as follows:
If the Ending Price is less than the Starting Price but greater than or equal to the Threshold Price: $1,000; or
If the Ending Price is less than the Threshold Price: $1,000 minus:
 |
Starting Price: |
The stock closing price on the pricing date |
Ending Price: |
The “Ending Price” will be the stock closing price on the Final Calculation Day |
Threshold Price: |
90% of the Starting Price |
Calculation Agent: |
BofA Securities, Inc. (“BofAS”), an affiliate of BofA Finance |
Underwriting Discount**: |
Up to 2.325%; dealers, including those using the trade name Wells Fargo Advisors (WFA), may receive a selling concession of 1.75% and WFA may receive a distribution expense fee of 0.075%. |
CUSIP: |
09711HZU0 |
Material Tax Consequences: |
See the preliminary pricing supplement. |
*Subject to change.
** In addition, selected dealers may receive a fee of up to 0.10% for marketing and other services. |
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Your investment may result in a loss; there is no guaranteed return of principal.
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Any positive investment return on the Securities is limited.
●
The Securities do not bear interest.
●
The Call Premium or Maturity Payment Amount, as applicable, will not reflect the price of the Underlying Stock other than on the Call Dates.
●
The Securities are subject to a potential automatic call, which would limit your ability to receive further payment on the Securities.
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Your return on the Securities may be less than the yield on a conventional debt security of comparable maturity.
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A Call Settlement Date and the Maturity Date may be postponed if a Call Date is postponed.
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Any payment on the Securities is subject to the credit risk of BofA Finance, as issuer, and BAC, as Guarantor, and actual or perceived changes in BofA Finance or the Guarantor’s creditworthiness are expected to affect the value of the Securities.
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We are a finance subsidiary and, as such, have no independent assets, operations or revenues.
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The public offering price you pay for the Securities will exceed their initial estimated value.
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The initial estimated value does not represent a minimum or maximum price at which BofA Finance, BAC, BofAS or any of our other affiliates or WFS or its affiliates would be willing to purchase your Securities in any secondary market (if any exists) at any time.
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BofA Finance cannot assure you that a trading market for your Securities will ever develop or be maintained.
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The Securities are not designed to be short-term trading instruments, and if you attempt to sell the Securities prior to maturity, their market value, if any, will be affected by various factors that interrelate in complex ways, and their market value may be less than the principal amount.
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Trading and hedging activities by BofA Finance, the Guarantor and any of our other affiliates, including BofAS, and WFS and its affiliates, may create conflicts of interest with you and may affect your return on the Securities and their market value.
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There may be potential conflicts of interest involving the calculation agent, which is an affiliate of ours.
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Changes that affect the Underlying Stock may adversely affect the value of the Securities and any payments on the Securities.
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The Securities may become linked to the common stock of a company other than the original Underlying Stock Issuer.
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We cannot control actions by the Underlying Stock Issuer.
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We and our affiliates have no affiliation with the Underlying Stock Issuer and have not independently verified any public disclosure of information.
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You have limited anti-dilution protection.
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The U.S. federal income and estate tax consequences of the Securities are uncertain, and may be adverse to a holder of the Securities.
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Source:
FAQ
Why did Rocket Companies (RKT) file a Form S-3ASR on July 1 2025?
How many Rocket shares are being registered and what is the dilution percentage?
Will Rocket receive cash from this registration?
Is the Redfin acquisition completed?
What risks does Rocket highlight in the prospectus?
Where is Rocket鈥檚 Class A stock listed and under what ticker?
What happens to the Class A shares if the options are not exercised?
