secwatch.observer — SEC 8-K summary
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Issuer:     OppFi Inc. (OPFI)
CIK:        0001818502
Form:       8-K
Filed at:   2021-07-26T23:59:59+00:00
Accession:  0001193125-21-224403
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 2.01, 9.01, 3.02, 3.03, 5.01, 5.02, 5.03, 5.05, 5.06
LLM model:  deepseek-v4-flash:cloud@v2

FG New America completes business combination with OppFi; combined entity renamed OppFi Inc.
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- Aggregate consideration ~$806.5M: $91.6M cash plus 96.99M shares of newly authorized Class V voting stock.
- Post-combination: 12.98M Class A common shares outstanding (public float); Class V shares have voting but no economic rights.
- OppFi members subject to 9-month lock-up; Founder Holders subject to 24-month lock-up on certain shares.
- Tax Receivable Agreement grants members 90% of future tax savings from increased tax basis.
- OppFi Q1 2021: revenue $84.3M, earnings before taxes $24.4M; auto-approval rate improved to 41.3%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818502/000119312521224403/0001193125-21-224403-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818502/000119312521224403/d93222d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-224403

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