CompuCredit chairman and CEO David Hanna said the terms of the agreement provides it a very favorable return on its Jefferson Capital investment as well as capital that can be used for expansion of its point-of-sale retail consumer lending platform, auto lending platform and other businesses with long-term growth potential that provide attractive returns.
"We also are actively exploring other uses of the capital generated by this sale, including stock buybacks and dividends, as we remain committed to increasing shareholder value," Hanna added.
Raymond James served as the financial advisor to CompuCredit and Troutman Sanders provided legal counseling to the seller.
CompuCredit provides a wide spectrum of credit and related financial services and products to consumers, who are underserved by traditional financial institutions.
