- Marlin Business Services (NASDAQ:MRLN) inks agreement under which HPS Investment Partners, via its European Asset Value Funds, will acquire all of the Company's outstanding shares of common stock in an all-cash transaction for $23.50 per share.
- The acquisition price represents a 65% premium to the closing stock price on April 16, 2021.
- The Company’s Board of Directors has unanimously approved the transaction.
- The closing of the transaction is subject to various customary closing conditions, including regulatory and shareholder approvals and the requirement that Marlin Business Bank effect a “de-banking” and cease operations as a bank.
- Following the closing, Marlin will become a privately held company and shares of Marlin will no longer be listed on Nasdaq.
- Shares +1% premarket.