CURO Group Holdings Corp.: M&A transaction — CURO completes sale of Flexiti for C$55M; receives C$39M net at close

CURO Group Holdings Corp.

Sale of FLX Holdings (Flexiti) to Questrade Financial closed Aug 31, 2023; net proceeds of ~C$39M received.
Expected additional C$25-30M in late 2023 and up to C$4M in later periods per agreement.
Robert Hurzeler (CEO of Flagship Credit Acceptance) appointed to Board effective Sept 1, 2023; granted 48,543 RSUs.
Updated Q3 2023 outlook ex-Flexiti: revenue $165-170M, EOP receivables $1.23-1.28B, net charge-offs 17.0-19.5%.

item 2.01 item 9.01 item 5.02 item 7.01 item 8.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Robert Hurzeler

Director

CURO Group Holdings Corp.

Effective: 2023-09-01
Filed: September 5, 2023, 7:59 PM ET

Robert Hurzeler has been appointed to a newly-created position on the Board, with a term expiring at the Company’s annual meeting of stockholders to be held in 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert Hurzeler was appointed as Director at CURO Group Holdings Corp..

Action: appointed
Role: Director

Exact text from the filing

Robert Hurzeler has been appointed to a newly-created position on the Board, with a term expiring at the Company’s annual meeting of stockholders to be held in 2024.

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CURO Group Holdings Corp. completed a disposition involving Questrade Financial Group Inc. for purchase price of approximately C$55 million, subject to an adjustment based on Flexiti’s tangible book value and certain other adjustments (closed 2023-08-31).

Action: disposition
Counterparty: Questrade Financial Group Inc.
Consideration: purchase price of approximately C$55 million, subject to an adjustment based on Flexiti’s tangible book value and certain other adjustments
Closing: 2023-08-31

Exact text from the filing

equity interests of FLX Holding Corp. (“Flexiti”), which constitutes the entirety of the Company’s Canada point-of-sale lending segment, for a purchase price of approximately C$55 million, subject to an adjustment based on Flexiti’s tangible book value and certain other adjustments (the “Divestiture”). The Disposition closed on August 31, 2023. In connection with

View on SEC.gov

Browse all m&a transactions →

Source: SEC EDGAR

accession 0001711291-23-000085

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.