Open Lending Corporation Announces Launch of Secondary Offering and Share Repurchase
In addition, Open Lending announced that it entered into an agreement to repurchase from the selling stockholders an aggregate number of shares of Open Lending’s common stock equal to $20.0 million at the same per share price paid by the underwriters to the selling stockholders in the offering. The share repurchase is conditioned on the closing of the offering.
This offering will be made only by means of a prospectus. Before you invest, you should read the prospectus and other documents that Open Lending has filed with the Securities and Exchange Commission (the “SEC”) for more complete information about Open Lending and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov
Alternatively, copies of the preliminary prospectus relating to the offering may be obtained from Deutsche Bank Securities Inc., Attention: Prospectus Department, 60 Wall Street, New York, New York 10005, telephone: (800) 503-4611 or email: email@example.com; or
A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed in the Company’s filings with the SEC, including those under the header “Risk Factors” in the Registration Statement on Form S-1 filed with the SEC on March 29, 2021, as amended. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that they currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
About Open Lending Corporation
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Source: Open Lending Corporation