Open Lending Corp

Open Lending Corporation announced the completion of its acquisition by ANV Group Holdings Ltd. The merger, initiated by a tender offer at $3.15 per share, concluded on July 30, 2026. Approximately 85.57% of outstanding shares were tendered, leading to Open Lending becoming an indirect wholly-owned subsidiary of ANV Group. In connection with the merger, Open Lending's Credit Agreement was terminated, and outstanding obligations will be repaid.

Open Lending Corporation has entered into a definitive agreement to be acquired by ANV Group Holdings Ltd. for $3.15 per share in cash through a tender offer. This price represents a significant premium of approximately 78% over Open Lending's 90-day volume weighted average share price. The transaction, which has been unanimously approved by Open Lending's board of directors, is expected to close in the third quarter of 2026. Following the acquisition, Open Lending will cease to be a publicly traded company.

Open Lending Corporation announced that William Dabbs Cavin resigned from his position as a director, effective June 8, 2026. The company stated that his resignation was not a result of any dispute or disagreement with the company or its Board of Directors regarding operations, policies, or practices.

Open Lending Corp reported a total revenue of $20.5 million for the three months ended March 31, 2026, a decrease from $24.4 million in the prior year period. The company recorded a net loss of $0.5 million, compared to a net income of $0.6 million in Q1 2025. In a positive corporate action, the Board of Directors increased the share repurchase program to $50.0 million and extended its expiration to May 1, 2027.

Open Lending Corporation reported a net loss of $0.5 million on total revenue of $20.5 million for Q1 2026, compared to net income of $0.6 million and revenue of $24.4 million in Q1 2025. The company facilitated 21,064 certified loans, a decrease from 27,638 in the prior year. Despite the decline in certified loans and revenue, the company exceeded its certified loan guidance and improved the quality and mix of its loan portfolio. The Board also extended and increased the share repurchase program to $50.0 million.

Open Lending Corporation announced its plan to release first-quarter 2026 financial results after the market closes on Thursday, May 7, 2026. The company will host a conference call to discuss these results on the same day at 5:00 PM ET. Investors can access the live webcast via the company's investor relations website or by dialing into the provided phone numbers.