FlexShopper Announces a Purchase Option for 91% of its Outstanding Series 2 Preferred Stock at a 50+% Discount to Liquidation Preference
FlexShopper, Inc. (FPAY)
NASDAQ:AMEX Investor Relations:
investors.flexshopper.com
Company Research
Source: GlobeNewswire
BOCA RATON, Fla., Oct. 28, 2024 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (Nasdaq: FPAY), (“the Company”), a leading online lease-to-own retailer and payment solutions provider, today announced that it has entered into a purchase option agreement with the majority holder of the Company’s Series 2 Preferred Stock (the “Preferred Stock”), in which FlexShopper has the option to redeem 91% of FlexShopper’s Preferred Stock at a 50+% discount to the second quarter of 2024 liquidation preference of approximately $43 million. The discount is based upon the date of repayment and the option to purchase lasts for a one-year period. In addition, further payments to the seller of the Preferred Stock may be required based upon the purchase price in a change of control in the next 12 months or patent settlement announcements in the next 24 months. “We are excited to pursue options to redeem over 90% of our outstanding Series 2 Preferred Stock at a significant discount to its liquidation preference. W
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News
- FlexShopper, Inc. (NASDAQ: FPAY) had its price target raised by analysts at Maxim Group from $2.00 to $4.00. They now have a "buy" rating on the stock.MarketBeat
- FlexShopper Inc (FPAY) Q3 2024 Earnings Call Highlights: Record Revenue Growth and Strategic ... [Yahoo! Finance]Yahoo! Finance
- FlexShopper, Inc. Reports Record 2024 Third-Quarter Financial Results [Yahoo! Finance]Yahoo! Finance
- FlexShopper, Inc. Reports Record 2024 Third-Quarter Financial ResultsGlobeNewswire
- FlexShopper, Inc. Schedules 2024 Third Quarter Financial Results Conference Call [Yahoo! Finance]Yahoo! Finance
FPAY
Earnings
- 11/14/24 - Miss
FPAY
Sec Filings
- 11/20/24 - Form S-1/A
- 11/19/24 - Form 10-Q
- 11/19/24 - Form 8-K
- FPAY's page on the SEC website