PROG HOLDINGS, INC.

(PRG)
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Delayed Nyse  -  05/23 04:00:02 pm EDT
25.86 USD   -0.81%
04/28Raymond James Lowers PROG Holdings Price Target to $35 From $42, Maintains Outperform Rating
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04/28KeyBanc Adjusts PROG Holdings' Price Target to $50 from $55, Keeps Overweight Rating
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04/27Tranche Update on PROG Holdings, Inc.'s Equity Buyback Plan announced on November 3, 2021.
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PROG : Announces Final Results of Tender Offer - Form 8-K

12/08/2021 | 07:12am EDT

PROG Holdings, Inc. Announces Final Results of Tender Offer

SALT LAKE CITY, December 8, 2021 - PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Vive Financial, and Four Technologies, today announced the final results of its "modified Dutch auction" tender offer. The tender offer expired at 12:00 midnight, New York City time, at the end of the day on December 3, 2021.

In accordance with the terms and conditions of the tender offer and based on the final count by Computershare Trust Company, N.A., the depositary for the tender offer, PROG Holdings accepted for purchase, at a purchase price of $49.00 per share, a total of 8,673,469 shares properly tendered and not properly withdrawn before the expiration date, at an aggregate cost of approximately $425 million, excluding fees and expenses relating to the tender offer. PROG Holdings accepted the shares on a pro rata basis, except for tenders of "odd lots," which were accepted in full, and conditional tenders that were automatically regarded as withdrawn because the condition of the applicable tender was not met. The Company has been informed by the depositary that the final proration factor for the tender offer is 77.8%. The shares accepted for purchase represent approximately 13.2% of PROG Holdings' outstanding common stock as of December 1, 2021.

The depositary will issue payment for the shares properly tendered and accepted for purchase in the tender offer on December 9, 2021, and will promptly return to the tendering shareholders all other shares tendered and not purchased.

J.P. Morgan Securities LLC acted as dealer manager for the tender offer. Shareholders who have questions or would like additional information about the tender offer may contact the information agent for the tender offer, Georgeson LLC, at (800) 868-1390 (toll-free).

About PROG Holdings, Inc.

PROG Holdings, Inc. (NYSE:PRG) is a fintech holding company headquartered in Salt Lake City, UT, that provides transparent and competitive payment options to consumers. PROG Holdings owns Progressive Leasing, a leading provider of e-commerce,app-based, and in-storepoint-of-salelease-to-own solutions, Vive Financial, an omnichannel provider of second-look revolving credit products, and Four Technologies, provider of Buy Now, Pay Later payment options through its platform Four. More information on PROG Holdings' companies can be found at https://www.progholdings.com.

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Investor Contact

John A. Baugh, CFA

Vice President, Investor Relations

john.baugh@progleasing.com

Media Contact

Mark Delcorps

Director, Corporate Communications

media@progleasing.com

Disclaimer

PROG Holdings Inc. published this content on 08 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 December 2021 12:11:07 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2022 2 810 M - -
Net income 2022 168 M - -
Net Debt 2022 421 M - -
P/E ratio 2022 8,40x
Yield 2022 -
Capitalization 1 398 M 1 398 M -
EV / Sales 2022 0,65x
EV / Sales 2023 0,56x
Nbr of Employees 2 023
Free-Float 65,4%
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Number of Analysts 7
Last Close Price 25,86 $
Average target price 44,29 $
Spread / Average Target 71,3%
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Managers and Directors
Steven A. Michaels Chief Executive Officer
Brian Garner Chief Financial Officer
Ray M. Robinson Chairman
Ben Hawksworth Chief Product & Technology Officer
Matt Ball Vice President-Research & Development
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