ANV Group Holdings Ltd. said it has entered a definitive merger agreement with Open Lending Corporation.
ANV said it will acquire all outstanding shares of Open Lending common stock for $3.15 per share through an all-cash tender offer. The transaction price represents a premium of about 78% to Open Lending’s 90-day volume weighted average price as of June 15.
Open Lending partners with financial institutions across the U.S. to help expand access to automotive financing. Its proprietary risk decision-making technology and insurance‑backed credit structure helps lenders manage risk, improve loan performance, and expand access to credit.
Global insurance intermediary ANV operates a growing portfolio of specialty insurance businesses across a diverse range of risk and insurance products. The acquisition adds a specialty underwriting business that fits well within ANV’s existing business segments and is consistent with its strategic M&A approach, ANV said.
Joining ANV will provide Open Lending with access to capital, expanded market and distribution relationships, and strategic support for long-term growth and value creation.
Following the successful completion of the tender offer, ANV will acquire all remaining shares of Open Lending common stock not tendered in the tender offer through a second-step merger at the same price as in the tender offer. Upon the completion of the transaction, Open Lending will become a privately held company, and its common stock will no longer be listed on Nasdaq.
Open Lending’s board has approved the transaction, which is expected to close in the third quarter of 2026.
Topics
Mergers & Acquisitions
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