Deal Snapshot
Enova to Acquire Online Lender OnDeck for USD 90m
Friday 31 July 2020

US financial services provider Enova International (NYSE: ENVA) has agreed to acquire all outstanding shares of OnDeck (NYSE: ONDK), an online lender in the US, in a cash and stock transaction valued at approximately USD 90m, the company said.

Of the USD 90m, USD 8m will be paid in cash. Under the terms of the agreement, OnDeck shareholders will receive USD 0.12 cents per share in cash and 0.092 shares of Enova common stock for each share of OnDeck held. Upon completion of the transaction, OnDeck shareholders will own approximately 16.7% of the combined entity, with Enova shareholders owning approximately 83.3%.

Date Published: 31/07/2020