Neuberger Berman, Palos Capital and FinTech Ventures Complete Acquisition of IOU Financial
- Completion of acquisition by Neuberger Berman, Palos Capital, and FinTech Ventures
- None
As a result of the completed transaction, the Shares are expected to be delisted from the TSX Venture Exchange (the "TSX-V") at the close of trading on October 6, 2023. The Company will submit an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate the Company's public reporting requirements.
IOU is a wholesale lender that provides quick and easy access to growth capital to small businesses through a network of preferred brokers across the US and
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies – including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds – on behalf of institutions, advisors and individual investors globally. Neuberger Berman's investment philosophy is founded on active management, engaged ownership and fundamental research, including industry-leading research into material environmental, social and governance factors. Neuberger Berman is a PRI Leader, a designation awarded to fewer than
Palos Capital, based in
FinTech is an early-stage venture capital firm founded in 2015 and headquartered in
Certain statements contained in this press release may constitute forward-looking information or forward-looking statements (collectively, "forward-looking statements") under the meaning of applicable securities laws, including, but not limited to, statements with respect to the timing of the delisting of the Shares on the TSX-V, the cessation of the Company's reporting issuer status, and other statements that are not material facts. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology.
Although the Company believes that the forward-looking statements in this news release are based on information and assumptions that are current, reasonable and complete, these statements are by their nature subject to a number of factors that could cause actual results to differ materially from management's expectations and plans as set forth in such forward-looking statements, including, without limitation, the possibility that the Shares will not be delisted from the TSX-V in accordance with the timing currently contemplated, and that the Shares may not be delisted at all, due to a failure to satisfy, in a timely manner or otherwise, conditions necessary to delist the Shares from the TSX-V or for other reasons.
Readers are cautioned not to place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking statements in this press release speak only as of the date of this press release and IOU undertakes no obligation to update or revise any of these statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE IOU Financial Inc.