M&A
confidence high
sentiment neutral
materiality 0.60
Enova amends Grasshopper merger: each stockholder to receive 50% cash, 50% stock, election provisions eliminated
Enova International, Inc.
- Amendment removes stockholder election to choose cash or stock; all holders get 50% cash and 50% stock.
- Aggregate consideration unchanged; Cash Consideration set at $4.845 per share (subject to adjustment if shares exceed cap).
- Grasshopper stock options will vest and be canceled for cash equal to spread over exercise price.
- Maximum shares outstanding cap raised to 36,115,245 plus any exercised options/warrants.