Nicholas Financial, Inc. to Acquire Approximately $19 Million of Platinum Auto Finance’s Active Portfolio
Nicholas Financial, Inc. (NICK)
US:NASDAQ Investor Relations:
nicholasfinancial.com/annlrepdocs/anlinf07.htm
Company Research
Source: GlobeNewswire
CLEARWATER, Fla., Feb. 20, 2020 (GLOBE NEWSWIRE) -- Nicholas Financial, Inc. (NASDAQ: NICK) – an industry leading branch-based subprime auto leader focused on servicing the needs of the local independent dealer – announced today that they have entered into an agreement with Platinum Auto Finance of Tampa Bay, LLC (d/b/a Platinum Auto Finance) to acquire approximately $19 million of Platinum’s active and performing portfolio. This is the 3rd bulk portfolio purchase of Platinum Auto Finance’s receivable base in as many months. The first bulk purchases were $1.1 million and $0.9 million respectively, laying the groundwork for this much larger acquisition. “We have had a positive relationship with Platinum for some time now, and we are pleased we could see this acquisition through,” said Doug Marohn, president and CEO of Nicholas Financial. “Bringing over this portfolio to Nicholas increases our indirect portfolio by approximately 10% and will be immediately accretive. It also
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- Jim Simons Trims Stake in Nicholas Financial Inc [Yahoo! Finance]Yahoo! Finance
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Sec Filings
- 5/6/24 - Form 8-K
- 5/1/24 - Form 8-K
- 4/24/24 - Form 8-K
- NICK's page on the SEC website