Willkie Farr & Gallagher LLP
04/01/2024 | News release | Distributed by Public on 04/01/2024 13:44
Willkie Advises Title Resources Group on Acquisition of Doma Group
Willkie Advises Title Resources Group on Acquisition of Doma Group
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April 1, 2024
Willkie advised Title Resources Group (TRG), a leading title insurance underwriter, in its take-private acquisition of real estate technology company Doma Holdings, Inc. (NYSE: DOMA).
On March 28, Doma Holdings announced it has entered into a definitive agreement and plan of merger with TRG, in which TRG would acquire all of the outstanding shares of Doma for $6.29 per share of common stock in an all-cash transaction, an approximate premium of 43.0% over Doma's closing share price on March 27, 2024, and an approximate 33.9% premium over the trailing 30-day volume weighted average closing price ending March 27, 2024. Upon closing of the transaction, Doma will no longer be traded or listed on any public securities exchange.
Doma's underwriting division and technology division are expected to operate as subsidiaries of TRG with the technology division, Doma TechCo, operating on a separately-capitalized basis.
Title Resources Group is a leading underwriter for the real estate industry, and one of the nation's largest title insurance underwriters. Doma is a real estate technology company that uses proprietary machine intelligence technology to create a simple and affordable experience for everyone involved in a residential real estate transaction.
Willkie previously represented Centerbridge Partners in the acquisition of a controlling stake in Title Resources Guaranty Company, as part of a strategic agreement to form TRG as a joint venture between Centerbridge and Realogy, and in the launch of the joint venture and subsequent investments in TRG.
The Willkie team was led by partners Rosalind Fahey Kruse, Howard Block, Jenny Liu and Daniel Durschlag, and included associate Charise Patterson.
On March 28, Doma Holdings announced it has entered into a definitive agreement and plan of merger with TRG, in which TRG would acquire all of the outstanding shares of Doma for $6.29 per share of common stock in an all-cash transaction, an approximate premium of 43.0% over Doma's closing share price on March 27, 2024, and an approximate 33.9% premium over the trailing 30-day volume weighted average closing price ending March 27, 2024. Upon closing of the transaction, Doma will no longer be traded or listed on any public securities exchange.
Doma's underwriting division and technology division are expected to operate as subsidiaries of TRG with the technology division, Doma TechCo, operating on a separately-capitalized basis.
Title Resources Group is a leading underwriter for the real estate industry, and one of the nation's largest title insurance underwriters. Doma is a real estate technology company that uses proprietary machine intelligence technology to create a simple and affordable experience for everyone involved in a residential real estate transaction.
Willkie previously represented Centerbridge Partners in the acquisition of a controlling stake in Title Resources Guaranty Company, as part of a strategic agreement to form TRG as a joint venture between Centerbridge and Realogy, and in the launch of the joint venture and subsequent investments in TRG.
The Willkie team was led by partners Rosalind Fahey Kruse, Howard Block, Jenny Liu and Daniel Durschlag, and included associate Charise Patterson.
Rosalind Fahey Kruse PartnerCorporate & Financial Services
New York [email protected] +1 212 728 8632
Charise Patterson AssociateCorporate & Financial Services
Washington [email protected] +1 202 303 1019