SCHEDULE: Finance of America Repurchases Shares from Blackstone Entities

Finance of America Companies Inc. repurchased over 4 million shares and LLC units from Blackstone-affiliated entities for $10.00 per unit.

Summary

• Finance of America Companies Inc. (the "Issuer") repurchased an aggregate of 1,596,142 shares of Class A Common Stock and 2,418,767 Class A LLC Units from various Blackstone-affiliated reporting persons.
• The repurchase occurred on December 4, 2025, as part of the First Closing pursuant to an Amended and Restated Repurchase Agreement.
• The consideration for the repurchase was $10.00 per share or Class A LLC Unit, totaling approximately $40.15 million.
• Following the transaction, Blackstone entities, including BTO Urban Holdings L.L.C. and others, collectively beneficially own 4,014,908 shares of Class A Common Stock, representing 38.9% of the class.
• This beneficial ownership includes 2,418,766 shares that would be received upon conversion of FoA Units.
• The reported percentage is calculated based on 7,891,348 shares of Class A Common Stock outstanding as of November 7, 2025, as increased by the convertible FoA Units.
• Collectively, the Reporting Persons and Brian Libman and his affiliates may be deemed to beneficially own 13,316,267 shares of Class A Common Stock, representing 72.1% of the outstanding Class A Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. A share repurchase can be seen as a positive for the issuer by reducing outstanding shares and potentially signaling confidence in the company's valuation. For the selling party, it's a realization of value. No negative operational or financial news is disclosed.

Positives

• The share repurchase reduces the total outstanding shares and Class A LLC Units, which can be accretive to earnings per share for existing shareholders.
• The transaction provides liquidity to the selling Blackstone-affiliated entities.

Negatives

• The repurchase represents a significant capital outflow for Finance of America Companies Inc., totaling approximately $40.15 million.

Future Outlook

The filing does not contain explicit forward-looking statements or guidance beyond the details of the completed repurchase transaction.

Industry Context

This transaction reflects a significant ownership adjustment by a major institutional investor (Blackstone) in a financial services company. Such repurchases can be part of a broader strategy by private equity firms to monetize their investments or by the issuer to manage its capital structure and shareholder base. The specific implications depend on the broader market conditions for financial services and the company's strategic direction.

Related Party Transactions

• The repurchase of shares and Class A LLC Units by Finance of America Companies Inc. from Blackstone-affiliated entities can be considered a related party transaction due to Blackstone's significant beneficial ownership and influence.

Stakeholder Impact

• Shareholders: The reduction in outstanding shares and LLC units could lead to increased earnings per share and potentially support the stock price.
• Blackstone Entities: These entities have reduced their stake in Finance of America Companies Inc., realizing value from their investment.

Key Dates

Keywords

Finance of America Companies Inc., Blackstone, Share Repurchase, Class A Common Stock, Schedule 13D Amendment, Beneficial Ownership, SEC Filing, FoA Units