SAN FRANCISCO and AUSTIN, Texas, May 18, 2020 (GLOBE NEWSWIRE) -- Open Lending, LLC (“Open Lending”), a leading provider of lending enablement and risk analytics solutions to financial institutions, and Nebula Acquisition Corporation (NASDAQ: NEBU) ("Nebula"), a special purpose acquisition company sponsored by True Wind Capital, L.P. (“True Wind Capital”), today announced that they have agreed to a revised business combination agreement reflecting an updated transaction enterprise value of $1,080 million from the previously agreed upon value of $1,330 million announced on January 6, 2020. This 19% decrease in value reflects a reduction in the aggregate consideration to be paid to Open Lending’s selling equity-holders’ due to the impact of COVID-19 on the economy and the public markets, and represents a 7.4x multiple based upon the midpoint of the projected 2021 EBITDA range for Open Lending. https://www.globenewswire.com/news-release/2020/05/18/2034846/0/en/Open-Lending-and-Nebula-Acquisition-Corporation-Announce-Revised-Business-Combination-Agreement.html
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.