MergerApr 29, 2026, 07:22 AM
OPFI to acquire BNCCORP for $19.375 cash + stock per share
AI Summary
OppFi Inc. (OPFI) has entered into an Agreement and Plan of Merger to acquire BNCCORP, Inc. Under the terms, each share of BNCCORP Common Stock will be converted into the right to receive $19.375 in cash and a specified number of OppFi Common Stock shares. Following the initial merger, an interim national bank subsidiary of OppFi will merge into BNCCORP's Birch Bank. Both companies' Boards of Directors have unanimously approved the transaction, which is intended to qualify as a tax-free reorganization.
Key Highlights
- OppFi Inc. (OPFI) to acquire BNCCORP, Inc.
- BNCCORP shareholders to receive $19.375 cash per share.
- BNCCORP shareholders to also receive OppFi common stock per share.
- BNCCORP's Birch Bank to merge with OppFi's Oak Interim Bank.
- BNCCORP had 3,544,274 common shares outstanding on April 27, 2026.
- The merger agreement was dated April 28, 2026.
- Merger intended to qualify as a Section 368(a) reorganization for tax purposes.