Welcome to our dedicated page for Franchise Group news (Ticker: FRGAP), a resource for investors and traders seeking the latest updates and insights on Franchise Group stock.
Liberty Tax (FRGAP) delivers professional tax preparation services through one of North America's largest franchise networks. This news hub provides investors and industry observers with authorized updates about corporate milestones, financial performance, and strategic initiatives.
Access official press releases detailing quarterly results, leadership appointments, and expansion plans alongside analysis of operational developments. Our curated feed ensures timely updates about franchise growth, service innovations, and regulatory compliance matters.
Key focus areas include franchisee support programs, technological advancements in tax filing, and corporate responsibility initiatives. Bookmark this page for convenient access to essential updates that impact Liberty Tax's market position and long-term strategy.
Franchise Group, Inc. (NASDAQ: FRG) has declared a quarterly dividend of $0.46875 per share for Series A Cumulative Perpetual Preferred stockholders. The dividend is set to be paid on or about April 15, 2021, to those who hold the stock as of the close of business on March 31, 2021. Franchise Group operates over 4,100 locations across various brands, including Liberty Tax Service and The Vitamin Shoppe, focusing on strong cash flow generation.
Franchise Group has entered into a definitive agreement for its Liberty Tax business to merge with NextPoint Acquisition Corp., part of a diversified financial services platform. The deal will yield over $240 million, comprising $182 million in cash and $61 million in stock. The transaction aligns with Franchise Group's strategy to transition Liberty from a seasonal tax service to a year-round financial products provider. Expected completion is in the second quarter of 2021, subject to regulatory approvals.
Franchise Group (NASDAQ: FRG) has announced a definitive agreement to acquire Pet Supplies Plus (PSP) in an all-cash transaction valued at approximately $700 million. The acquisition is projected to boost Franchise Group's earnings and revenue, with anticipated systemwide annual revenue exceeding $3.6 billion. PSP, boasting over 500 locations, contributes a diversified revenue model and strong unit economics. The deal is expected to close in March 2021, providing Franchise Group with an estimated $100 million in net present value tax benefits.
Franchise Group announced the closing of its underwritten offering of 7.50% Series A Cumulative Perpetual Preferred Stock at $25.20 per share. The underwriters partially exercised their option, purchasing an additional 314,934 shares, raising approximately $7.7 million. Total shares sold in this offering reached 3,291,125, yielding about $79.5 million in net proceeds. The funds are aimed at general corporate purposes, including future acquisitions. Dividends are set at $1.875 per year, payable quarterly starting April 15, 2021.
Franchise Group (NASDAQ: FRG) announced a public offering of 2,976,191 shares of its 7.50% Series A Cumulative Perpetual Preferred Stock, priced at $25.20 per share, with gross proceeds estimated at $75 million. The offering closes around January 15, 2021, and includes a 30-day option for underwriters to purchase an additional 446,428 shares. Proceeds will support general corporate purposes, including potential acquisitions. The offering is a reopening of stock initially issued on September 18, 2020, and shares will be consolidated with existing stock.
Franchise Group (NASDAQ: FRG) announced a public offering of its 7.50% Series A Cumulative Perpetual Preferred Stock, aiming to raise capital for general corporate purposes, including future acquisitions. This offering is a reopening of its original issuance from September 2020 and will consolidate with existing shares, all trading under the symbol FRGAP. Dividends of $1.875 annually will be payable quarterly starting April 15, 2021. Several firms, including B. Riley Securities and Incapital, are managing the offering, which relies on an effective shelf registration statement filed with the SEC.
