SurvivorFinancial Services
What Happened to OppFi?
Ticker: OPFISPAC Year: 2020Merger: 2021
Return
-19.3%
Current Price
$8.07
Peak Price
$17.73
Trust Size
$754M
Summary
OppFi is a fintech platform that partners with banks to provide personal loans to consumers with limited credit history or low credit scores who are underserved by traditional banks.
What Happened
OppFi went public in July 2021 through a merger with FG New America Acquisition Corp. The Chicago-based company offers AI-powered lending products through bank partnerships, targeting the estimated 60 million Americans shut out of mainstream credit. OppFi has been profitable and has shown steady growth, though it operates in a regulatory-sensitive consumer lending segment.
Timeline
2020-09-14
S-1 Registration Filed
2021-06-22
Merger Proxy Filed (DEFM14A)