OppFi Finalizes Terms for BNCCORP Acquisition, Issuing 6.8M Shares in EPS-Accretive Deal
OPFI sits 33% above its 52-week low of $7.36.
Summary
OppFi is acquiring BNCCORP for $132.8 million in cash and stock, a strategic move to become a bank holding company and expand its fintech platform, with the deal expected to boost OppFi's EPS.
Key Events · M&A and Partnerships · OPFI
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Acquisition Finalized
OppFi will acquire BNCCORP, Inc. for approximately $132.8 million, a significant step in becoming a bank holding company. This filing finalizes the terms and pricing of the offering.
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Consideration Details
BNCCORP shareholders will receive $19.375 in cash and 1.90 shares of OppFi Class A Common Stock for each share.
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Share Issuance & Ownership
OppFi will issue approximately 6.81 million Class A Common Stock shares, resulting in BNCCORP shareholders owning about 7.4% of OppFi post-merger.
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EPS Accretion Projected
The transaction is projected to be accretive to OppFi's estimated earnings per share in 2026 and 2027.
Analysis · OPFI · Finance
OppFi Inc. is proceeding with its acquisition of BNCCORP, Inc., a move that will transform OppFi into a bank holding company and expand its fintech offerings. The transaction, valued at approximately $132.8 million, involves a mix of cash and stock, with BNCCORP shareholders receiving $19.375 in cash and 1.90 shares of OppFi Class A Common Stock for each BNCCORP share. This deal is expected to be accretive to OppFi's earnings per share in 2026 and 2027, leveraging BNCCORP's banking infrastructure for strategic growth and synergies.
At the time of this filing, OPFI was trading at $9.76 on NYSE in the Finance sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $7.36 to $12.60. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.