Cases
OnDeck Capital, Inc. (NYSE: ONDK)
Merger
Overview
Overview
- Date:
- 7/28/2020
- Case Caption:
- Yap v. On Deck Capital, Inc., et al.
- Stock Symbol:
- ONDK
- Company Name - Buyer:
- Enova International, Inc.
- Stock Symbol - Buyer:
- ENVA
- Status:
- Filed
- Merger Announcement Date:
- 7/28/2020
- Filing Date:
- 9/23/2020
- Court:
- U.S. District Court: Colorado
NEW YORK, July 28, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of OnDeck Capital, Inc. (NYSE: ONDK) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Enova International, Inc. (NYSE: ENVA).
On July 28, 2020, OnDeck announced that it had signed an agreement to be acquired by Enova for approximately $90 million. Pursuant to the merger agreement, OnDeck’s stockholders will receive $0.12 in cash and 0.092 shares of Enova common stock for each share of OnDeck common stock owned. The deal is scheduled to close in by the end of 2020.
Bragar Eagel & Squire is concerned that OnDeck’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for OnDeck’s stockholders.
On July 28, 2020, OnDeck announced that it had signed an agreement to be acquired by Enova for approximately $90 million. Pursuant to the merger agreement, OnDeck’s stockholders will receive $0.12 in cash and 0.092 shares of Enova common stock for each share of OnDeck common stock owned. The deal is scheduled to close in by the end of 2020.
Bragar Eagel & Squire is concerned that OnDeck’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for OnDeck’s stockholders.