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Propel to Accelerate Global Expansion with the Acquisition of QuidMarket for US$71 Million and Announces Concurrent C$100 Million Bought Deal Offering of Subscription Receipts
Propel to Accelerate Global Expansion with the Acquisition of QuidMarket for US$71 Million and An...
About this update from Propel Holdings, Inc.
[{"type":"text","content":"\n\n\n\n Propel to Accelerate Global Expansion with the Acquisition of QuidMarket for US$71 Million and Announces Concurrent C$100 Million Bought Deal Offering of Subscription Receipts\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n [The base shelf prospectus is accessible, and the shelf prospectus supplement will be accessible within two business days, through SEDAR+]\n \n\n\n\n TORONTO\n \n\n ,\n \n\n Sept. 26, 2024\n \n\n /CNW/ - Propel Holdings Inc. (\"Propel\" or the \"Company\") (TSX: PRL) the fintech facilitating access to credit for underserved consumers, today announced that it has entered into a definitive agreement to acquire Stagemount Limited (dba \"QuidMarket\"), a leading digital UK-based fintech lender specializing in credit for underserved consumers (the \"Acquisition\").\n \n\n\n\n\n\n\n\n\n\n Acquisition Highlights\n \n\n\n\n Launched in 2011, QuidMarket is one of the UK's leading digital direct lending platforms, focused on the underserved consumer\n \n\n Accelerates Propel's growth strategy through global expansion, with a foothold in UK market\n \n\n Expands access to credit and best-in-class products for underserved UK consumers, where demand for credit exceeds supply\n \n\n The existing management team at QuidMarket will continue to operate the business on a go- forward basis\n \n\n Management believes the Acquisition will be immediately accretive to Propel's 2024 and 2025 Adjusted Earnings Per Share, on a pro forma ba...