March 6, 2018 / 11:02 PM / in 5 months

BRIEF-Axis Auto Finance To Acquire Trend Financial For $29.3 Mln

March 6 (Reuters) - Axis Auto Finance Inc:

* AXIS AUTO FINANCE SIGNS DEFINITIVE AGREEMENT TO ACQUIRE TREND FINANCIAL CORP. AND ANNOUNCES THE APPOINTMENT OF TODD HUDSON AS CEO

* AXIS AUTO FINANCE INC - ‍ACQUISITION OF TREND FINANCIAL ROUGHLY DOUBLES AXIS’ PORTFOLIO OF NET FINANCE ASSETS TO ABOUT $110 MILLION​

* AXIS AUTO FINANCE INC - ‍TRANSACTION IS EXPECTED TO BE IMMEDIATELY ACCRETIVE TO AXIS’ ADJUSTED EARNINGS AND BOOK VALUE​

* AXIS AUTO FINANCE INC - ‍ILJA TROITSCHANSKI TO REMAIN AS PRESIDENT OF AS AXIS​

* AXIS AUTO FINANCE INC - DEAL FOR ‍CONSIDERATION OF APPROXIMATELY $29.3 MILLION​

* AXIS AUTO FINANCE - PLANS TO FUND DEAL THROUGH PRIVATE PLACEMENT OFFERING OF SUBSCRIPTION RECEIPTS, EXTENDIBLE CONVERTIBLE DEBENTURES​

* AXIS AUTO FINANCE- DEAL PURCHASE PRICE TO BE SATISFIED BY ABOUT $23.9 MILLION CASH, ISSUANCE OF ABOUT 6.95 MILLION SHARES, 6.6 MILLION SHARE PURCHASE WARRANTS Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below