Enova to Acquire OnDeck to Create a Leading FinTech Company (Jul 28, 2020)

Summary

This release, provided by Enova International, Inc. on Jul 28, 2020 at 16:16 ET, announces that Enova will acquire OnDeck to create a leading fintech company serving consumers and small businesses. The headline values the transaction at $1.38 per share, including $0.12 in cash, a 90.4% premium to OnDeck's closing price as of July 27, 2020, and calls it highly accretive with cost and revenue synergy opportunities.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

Enova to Acquire OnDeck to Create a Leading FinTech Company Serving Consumers and Small Businesses

Transaction Valued at $1.38 Per Share, Including $0.12 in Cash; Represents 90.4% Premium to OnDeck's Closing Price as of July 27, 2020

Highly Accretive Transaction with Significant Cost and Revenue Synergy Opportunities

Combines World-Class Capabilities in Consumer and Small Business Online Lending Creating a Company with Scale and Financial Strength to Drive Further Growth and Shareholder Value

News provided by

Enova International, Inc.

Jul 28, 2020, 16:16 ET

Share this article

Share to X

Share this article

Share to X

Enova International Logo (PRNewsFoto/Enova International, Inc.)

File and source

File

enova-to-acquire-ondeck-to-create-a-leading-fintech-company-serving-co_55ca968a02c660df.html

Size

233,794 bytes

SHA-256

9eade6ff662aebb0d41625bdab672b071425826f8e0e845c7b471738a91a5a24

Our copy

enova-to-acquire-ondeck-to-create-a-leading-fintech-company-serving-co_55ca968a02c660df.html

Original

www.prnewswire.com