- Encore Capital (NASDAQ:ECPG) launches a public offering of up to $150M of exchangeable senior notes due 2023; greenshoe option for added $22.5M of such notes.
- ECPG +0.8% in after-hours trading.
- Encore plans to use the proceeds to partly fund its acquisition of the outstanding equity interests of Janus Holdings Luxembourg that it doesn't currently hold. Immediately after the acquisition.
- In connection with the notes' pricing, ECPG expects to enter into privately negotiated capped call transactions with one or more of the underwriters and/or their affiliates. The capped call transactions are intended to reduce potential dilution to ECPG's common stock.
- ECPG expects option counterparties to enter into derivative transactions with respect to ECPG common stock. This activity could increase (or reduce the size in any decrease in) the market price of ECPG's common stock or the notes at or after the pricing of the notes.
- Source: Press Release
- Previously: Encore Capital Group sees Q2 adjusted EPS $1.28-1.33, revenue $348M-$350M (July 16)
- Now read: First Defiance Financial beats by
- Now read: First Defiance Financial beats by $0.02, misses on net interest income
.02, misses on net interest income
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