Brief: Firstcash To Acquire American First Finance In $1.17 Bln Deal

Firstcash Holdings

28/10/2021 11:20

Oct 28 (Reuters) - FirstCash Inc  FCFS.O :
    * FIRSTCASH TO ACQUIRE AMERICAN FIRST FINANCE, A LEADING
TECHNOLOGY-DRIVEN VIRTUAL LEASE-TO-OWN AND RETAIL FINANCE
PLATFORM FOR UNDERSERVED CUSTOMERS
    * FIRSTCASH INC - $1.17 BILLION STOCK AND CASH TRANSACTION
    * FIRSTCASH INC - $1.17 BILLION STOCK AND CASH TRANSACTION
EXPECTED TO BE SIGNIFICANTLY ACCRETIVE TO EBITDA AND EPS
    * FIRSTCASH INC - UP TO AN ADDITIONAL $300 MILLION OF
CONSIDERATION IS PAYABLE IN EVENT AFF ACHIEVES CERTAIN
PERFORMANCE TARGETS THROUGH FIRST HALF OF 2023
    * FIRSTCASH INC - DEAL IS EXPECTED TO BE ABOUT 15% ACCRETIVE
TO
ADJUSTED EARNINGS PER SHARE IN 2022, WITH FURTHER ACCRETION
EXPECTED IN 2023
    * FIRSTCASH INC - FIRSTCASH WILL FORM A NEW PARENT COMPANY,
WHICH
WILL ASSUME FIRSTCASH'S LISTING ON NASDAQ AND MAINTAIN "FCFS"
TICKER SYMBOL
    * FIRSTCASH INC - ADJUSTED EBITDA ACCRETION IS PROJECTED TO
BE
APPROXIMATELY 30% IN 2022.
    * FIRSTCASH - EXISTING SHARES OF CO'S STOCK WILL
AUTOMATICALLY
CONVERT ON A ONE-FOR-ONE BASIS INTO SHARES OF COMMON STOCK OF
NEW FIRSTCASH PARENT CO
    * FIRSTCASH INC - CASH PORTION OF TRANSACTION WILL BE FUNDED
THROUGH A COMBINATION OF CASH ON HAND AND DEBT FINANCING

Source text for Eikon:  ID:nGNXbFygB8 
Further company coverage:  FCFS.O 

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