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Oportun Announces Next Step to Optimize Capital Structure and Drive Improved Profitability
Oportun (OPRT) has secured a new $235 million Senior Secured Term Loan to refinance its existing corporate financing facility. The loan, provided by Castlelake L.P. and Neuberger Berman, carries a 15% fixed rate and matures in November 2028. As part of the deal, lenders will receive warrants equal to 9.8% of fully-diluted shares. The company reported preliminary Q3 2024 results with total revenue of $249-251 million and expects an annualized net charge-off rate of 11.9%. For 2025, Oportun projects GAAP EPS between $0.25-$0.50 and Adjusted EPS of $1.00-$1.25.
Oportun (OPRT) has secured a new $235 million Senior Secured Term Loan to refinance its existing corporate financing facility. The loan, provided by Castlelake L.P. and Neuberger Berman, carries a 15% fixed rate and matures in November 2028. As part of the deal, lenders will receive warrants equal to 9.8% of fully-diluted shares. The company reported preliminary Q3 2024 results with total revenue of $249-251 million and expects an annualized net charge-off rate of 11.9%. For 2025, Oportun projects GAAP EPS between $0.25-$0.50 and Adjusted EPS of $1.00-$1.25.
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