LendingClub (NYSE:LC) just closed on the acquisition of Radius Bancorp as it morphs from an online lender to a full-stack digital bank. Today, a shelf registration statement has popped up outlining the terms of the deal that reveals the shares-cash purchase price.
LendingClub previously disclosed that it had committed approximately $180 million to acquire Radius Bancorp. The Form S-3ASR shows that LendingClub is registering 3,761,114 shares at a max offering price of $11.19 for a total of $42,086,865. Cash for the deal stands at $140,256,156 – so in total LendingClub has paid around $182 million.
The filing also outlines the selling shareholders by name.
If you are interested the Form S-3 is available here.
Leave a Reply