Upbound to acquire Brigit for up to $460M in cash and stock, expected to close by April 2025

UPBOUND GROUP, INC.

Total consideration: $243.75M cash at close, $81.25M in stock (or cash), $75M deferred over 2 years, up to $60M earnout.
Brigit has ~2M monthly active customers; expected 2025 revenue of $215-230M and 2026 revenue of $350-400M.
Deal expected to be accretive to Adj. EBITDA by $25-30M in 2025 and $70-80M in 2026.
Brigit co-founders to receive restricted stock vesting over 2 years; employment agreements become effective at closing.
Merger conditions include HSR clearance and other regulatory approvals; termination date April 1, 2025.

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