LPRO - Open Lending prices upsized secondary offering and share repurchase

Open Lending (LPRO) priced a secondary public offering of 9.5M shares of its common stock at a price of $28.00/share, upsized from the previously announced offering size of 8M shares.Underwriters' option to purchase up to 1.43M additional shares of common stock.Open Lending is not selling any shares and will not receive any of the proceeds of the offering.Offer is expected to close on December 14, 2020.Additionally, company also enters into an agreement to repurchase from the selling stockholders an aggregate number of shares of common stock equal to $37.5M at the same per share price paid by the underwriters to the selling stockholders in the offering and is expected to close on December 14, 2020.Shares are down 2.2% PM.

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Open Lending prices upsized secondary offering and share repurchase