Brief: Axis Auto Finance To Acquire Trend Financial For $29.3 Mln

Axis Auto Finance

06/03/2018 22:57

March 6 (Reuters) - Axis Auto Finance Inc  AXIS.V :
    * AXIS AUTO FINANCE SIGNS DEFINITIVE AGREEMENT TO ACQUIRE
TREND
FINANCIAL CORP. AND ANNOUNCES THE APPOINTMENT OF TODD HUDSON AS
CEO
    * AXIS AUTO FINANCE INC - ‍ACQUISITION OF TREND FINANCIAL
ROUGHLY
DOUBLES AXIS' PORTFOLIO OF NET FINANCE ASSETS TO ABOUT $110
MILLION​
    * AXIS AUTO FINANCE INC - ‍TRANSACTION IS EXPECTED TO BE
IMMEDIATELY ACCRETIVE TO AXIS' ADJUSTED EARNINGS AND BOOK VALUE​
    * AXIS AUTO FINANCE INC - ‍ILJA TROITSCHANSKI TO REMAIN AS
PRESIDENT OF AS AXIS​
    * AXIS AUTO FINANCE INC - DEAL FOR ‍CONSIDERATION OF
APPROXIMATELY
$29.3 MILLION​
    * AXIS AUTO FINANCE - PLANS TO FUND DEAL THROUGH PRIVATE
PLACEMENT
OFFERING OF SUBSCRIPTION RECEIPTS, EXTENDIBLE CONVERTIBLE
DEBENTURES​
    * AXIS AUTO FINANCE- DEAL PURCHASE PRICE TO BE SATISFIED BY
ABOUT
$23.9 MILLION CASH, ISSUANCE OF ABOUT 6.95 MILLION SHARES, 6.6
MILLION SHARE PURCHASE WARRANTS

Source text for Eikon:  ID:nCNWxzkhca 
Further company coverage:  AXIS.V 

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