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Open Lending Corporation Announces Launch of Secondary Offering and Share Repurchase
AUSTIN, Texas, March 29, 2021 (GLOBE NEWSWIRE) -- Open Lending Corporation, (“Open Lending”) (Nasdaq: LPRO), a leading provider of lending enablement and risk
About this update from Open Lending Corporation
[{"type":"text","content":"AUSTIN, Texas, March 29, 2021 (GLOBE NEWSWIRE) -- Open Lending Corporation, (“Open Lending”) (Nasdaq: LPRO), a leading provider of lending enablement and risk analytics solutions to financial institutions, announced today the launch of a secondary public offering of 7,500,000 shares of its common stock. The selling stockholders have also granted the underwriters a 30-day option to purchase up to 1,125,000 additional shares of common stock. All shares are being sold by existing stockholders, including Nebula Holdings, LLC., a True Wind Capital, L.P. managed entity, Bregal Sagemount and certain executive officers of Open Lending. Open Lending is not selling any shares and will not receive any of the proceeds of the offering. Deutsche Bank Securities, Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint book-running managers for the offering. 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 protected]; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-212-902-1171, facsimile: 212-902-9316 or by emailing [email protected]; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014. 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 ...