NerdWallet completes $120M acquisition of On the Barrelhead

NERDWALLET, INC.

Acquired OTB for ~$120M: $70M cash (borrowed) + $50M in NRDS Class A common stock (4,934,895 shares).
Cash portion financed via $70M borrowing under existing SVB credit facility at LIBOR+2.75% (4.54% at close).
Retention bonuses for OTB management: $15M cash over 3 years + $15M equity (RSUs).
Issued up to 1,998,531 RSUs to 14 former OTB employees as inducement under Nasdaq Rule 5635(c)(4).
OTB to integrate into NerdWallet’s platform; expected to enhance credit-driven product recommendations.

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