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Rocket Companies Simplifies Its Organizational Structure
- Client News
- March 10, 2025
Paul, Weiss is advising Rocket Companies, a Detroit-based fintech platform consisting of mortgage, real estate and personal finance businesses, in a transaction simplifying its organizational and capital structure. Under the transaction agreement, Rocket Companies will collapse its current Up-C structure, eliminate its high-vote/low-vote structure and reduce its classes of common stock from four to two. The Up-C collapse will enhance Rocket’s equity liquidity, improve its ability to use its common stock as acquisition currency in acquisition transactions and create a clearer corporate profile. In connection with the Up-C collapse, the Rocket Companies’ board of directors authorized and declared a cash dividend of $0.80 per share to the holders of Rocket’s Class A common stock.
The Paul, Weiss team is led by corporate partners Laura Turano, Scott Barshay and Andrew Krause and includes partners Christodoulos Kaoutzanis, John Kennedy, Aaron Schlaphoff, Patricia Vaz de Almeida and Frances Mi; tax partners Robert Killip and Brad Okun; executive compensation partner Jean McLoughlin and counsel Cynthia Akard; and antitrust partner Marta Kelly and counsel John Magruder.