Enova International (ENVA) Tops Q2 EPS by 76c; Not Providing Guidance

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Enova International (ENVA) to Acquire OnDeck (ONDK) for $1.38/Share

July 28, 2020 4:23 PM EDT

Enova International (NYSE: ENVA) and OnDeck® (NYSE: ONDK), today announced that they have entered into a definitive agreement under which Enova will acquire all outstanding shares of OnDeck in a cash and stock transaction valued at approximately $90 million. The implied price of $1.38 per OnDeck share reflects a 43.6% premium to its 90-day volume weighted average price and a 90.4% premium based on the closing price of $0.73 per OnDeck share on July 27, 2020.

This transaction brings together two complementary, market-leading businesses combining world-class capabilities in consumer and small business online lending.... More