Compass Inc (COMP) Climbs to 4-Year High as Shareholders OK $10-Billion Anywhere Merger

Core Viewpoint - Compass Inc. has achieved a significant milestone by reaching a four-year high in stock price, driven by positive investor sentiment regarding its $10 billion all-stock merger with Anywhere Real Estate Inc. [1] Group 1: Stock Performance - On the day of the announcement, Compass Inc.'s stock price peaked at $12.58 during intra-day trading, ultimately closing up by 9.33% at $11.84 per share [2]. Group 2: Merger Approval - A remarkable 99% of votes cast at Compass Inc.'s special stockholders' meeting approved the merger with Anywhere Real Estate, while Anywhere Real Estate received 72.4% approval from its shareholders [3]. - CEO Robert Reffkin expressed satisfaction with the strong support from both companies' stockholders, indicating confidence in the merger's potential to enhance services for real estate professionals [4]. Group 3: Fundraising Plans - Following the merger approval, Compass Inc. plans to raise $750 million through the issuance of convertible senior notes due in 2031, with the potential to increase to $862.5 million if the overallotment option is fully subscribed [5]. - The proceeds from this fundraising will be allocated for general corporate purposes, including covering merger costs and addressing Anywhere Real Estate's existing debt [5].