11 hours ago
Hippo buys back $14.5M in common stock held by Lennar
On June 11, 2025, Hippo Holdings (HIPO) entered into an agreement with certain entities affiliated with LEN FW Investor, LLC whereby the Company agreed to repurchase 514,309 shares of its common stock, par value $0.0001 per share, beneficially owned by Lennar in a private transaction at a price per Share of $28.17, for an aggregate purchase price of $14.5 million. The repurchase of the Shares pursuant to the Share Repurchase Agreement will be made under the Company's existing share repurchase program. As of June 16, 2025, after giving effect to the repurchase of the Shares pursuant to the Share Repurchase Agreement, approximately $18.1 million of authorization remains available under the share repurchase program. The Share Repurchase Agreement contains customary representations, warranties, and covenants of the parties. The transaction is expected to close in the third quarter of 2025.
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