Rent-a-Center Inc.

NASDAQ:RCII   3:59:54 PM EDT
54.29
+1.36 (+2.57%)
Other Pre-Announcement, Mergers / Acquisitions

Rent-A-Center Enters Into Definitive Agreement To Acquire Acima To Create Leading Virtual Lease-To-Own Platform

Published: 12/21/2020 02:35 GMT
Rent-a-Center Inc. (RCII) - Rent-a-center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-own Platform, Accelerate Long-term Growth.
Rent-a-center Inc - Total Consideration Consists of $1.273 Billion in Cash.
Rent-a-center Inc - Total Consideration Also Consists About 10.8 Million Shares of Rent-a-center Common Stock Currently Valued at $377 Million.
Rent-a-center Inc - Transaction is Expected to Close in First Half of 2021.
Rent-a-center -combination Has Strong Synergy Potential&results in Estimated Pro Forma 2020e Revenue of About $4.1 Billion and $540 Million in Adjusted EBITDA.
Rent-a-center Inc - Obtained $1.825 Billion in Debt Financing Commitments From Jp Morgan Securities Llc, Credit Suisse and Hsbc Securities (usa) Inc.rent-a-center Inc - $1.65 Billion Cash and Stock Transaction Expands Co's Position As a Premier Fintech Platform.