Funding Circle Holdings plc
Ready Capital Corproation (RC)
Last ready capital corproation earnings: 3/11 04:39 pm
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Source: PR Newswire
("Funding Circle" or the "Company" or the "Group") Completion of process to focus on UK businessAgreement reached with iBusiness Funding to acquire Funding Circle's US businessLONDON, June 24, 2024 /PRNewswire/ -- Further to the announcement on 7 March 2024, Funding Circle today announces it has entered into an agreement for the sale of Funding Circle's US business to iBusiness Funding, LLC (IBF). The transaction will be for a total cash consideration of £33m[1] [2], for the US business including all loan portfolios, which includes a £10m gain, before transaction costs. The proceeds from the transaction will be reviewed in line with our capital allocation framework.Lisa Jacobs, Funding Circle CEO, said "In March, I announced that we were simplifying the business by exiting the US and focusing on profitable growth in the UK business. Alongside the UK restructuring actions announced in May, we are continuing to execute against this plan with the sale of the US business to IBF. The UK
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News
- iBusiness Funding, LLC, a division of Ready Capital Corporation, Enters Definitive Agreement to Acquire Funding Circle USA (FC USA), Inc. and Return Funding Circle's Newly Acquired SBLC License to the SBA [Yahoo! Finance]Yahoo! Finance
- iBusiness Funding, LLC, a division of Ready Capital Corporation, Enters Definitive Agreement to Acquire Funding Circle USA (FC USA), Inc. and Return Funding Circle's Newly Acquired SBLC License to the SBAPR Newswire
- Funding Circle Holdings plc [Yahoo! Finance]Yahoo! Finance
- Ready Capital Corporation Declares Second Quarter 2024 DividendsGlobeNewswire
- Ready Capital Announces Acquisition of Madison One [Yahoo! Finance]Yahoo! Finance
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- 5/8/24 - Beat
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Sec Filings
- 6/14/24 - Form ARS
- 6/14/24 - Form DEFA14A
- 6/14/24 - Form DEF
- RC's page on the SEC website