FinWise (FINW) has released an update to notify the public and investors about an entry into a material definitive agreement.
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FinWise Bancorp amended its agreement with Business Funding Group, LLC and its four members to acquire an additional 10% nonvoting ownership interest, boosting its total stake to 20%. The deal involves issuing 339,176 shares of common stock to the sellers. The agreement can be terminated if conditions aren’t met by February 29, 2024. The company’s forward-looking statements about the transaction and its potential impact are not guarantees of future performance and are subject to various risks and uncertainties.
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