Jefferson Capital Announces Pricing of Secondary Public Offering and Concurrent Share Repurchase

Rhea-AI Summary

Jefferson Capital (Nasdaq: JCAP) priced a secondary offering of 10,000,000 shares by existing stockholders at $20.50 per share with a 30‑day option to sell up to 1,500,000 additional shares. The selling stockholders will receive all net proceeds. Concurrently, Jefferson Capital agreed to purchase 3,000,000 shares of its common stock from the underwriters at a per‑share price equal to the price payable to the selling stockholders. The offering and the concurrent repurchase are expected to close on January 9, 2026, subject to customary closing conditions. A registration statement was declared effective by the SEC on January 7, 2026. Joint‑lead bookrunners include Jefferies and Keefe, Bruyette & Woods.

Positive

• Concurrent repurchase of 3,000,000 shares from underwriters at the underwriter payment price
• 30‑day option for underwriters to buy up to 1,500,000 additional shares may aid market stabilization
• Registration declared effective by the SEC on January 7, 2026

Negative

• Secondary offering of 10,000,000 shares by existing holders increases shares available for trading
• Selling stockholders will receive all net proceeds; the company receives no proceeds from the offering
• Potential short‑term selling pressure around the expected close on January 9, 2026

Key Figures

Secondary shares offered 10,000,000 shares Shares sold by existing stockholders in underwritten public offering

Public offering price $20.50 per share Price to the public for secondary common stock offering

Underwriters’ option size 1,500,000 shares 30-day option for additional shares at public price less discounts

Concurrent repurchase size 3,000,000 shares Shares JCAP agreed to repurchase from underwriters

Option period 30 days Duration of underwriters’ option to purchase additional shares

Expected closing date January 9, 2026 Expected closing for offering and concurrent repurchase

Market Reality Check

$22.00 Last Close

Volume Volume 1,007,500 is 3.64x the 20-day average of 276,837, indicating elevated trading interest ahead of the secondary and buyback. high

Technical Price 20.64 is above the 200-day MA of 18.45 and 11.14% below the 52-week high of 23.2287.

Peers on Argus

JCAP is up 0.19% with elevated volume while peers show mixed moves: ATLC +2.09%, ECPG +0.96%, NAVI, EZPW and LX in negative territory. This pattern points to a stock-specific reaction to the secondary offering and concurrent repurchase rather than a broad Credit Services sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Jan 05	Secondary & buyback	Positive	+4.1%	Announced secondary share sale by existing holders plus 3M-share repurchase plan.
Dec 04	Portfolio acquisition	Positive	-2.4%	Closed Bluestem credit card portfolio acquisition with favorable collections profile.
Nov 13	Earnings results	Positive	+2.7%	Reported strong Q3 2025 growth in collections, ERC, revenue and income.
Oct 30	Earnings preview	Neutral	+2.4%	Scheduled Q3 2025 earnings release and webcast details for November 13.
Oct 28	Credit facility amend	Positive	-1.7%	Upsized and amended revolving credit facility with higher commitments and lower margins.

Pattern Detected

Across the last five news events, three showed price moves aligning with generally positive developments, while two credit-related balance sheet or acquisition updates saw negative reactions, indicating occasional sell-the-news behavior.

Recent Company History

Over recent months, Jefferson Capital reported strong Q3 2025 growth with higher collections and revenue, expanded and amended its revolving credit facility to $1.0B, and completed a sizable credit card portfolio acquisition with a net purchase price of $196.7M. Following its June 2025 IPO, ownership remained concentrated among JCF-affiliated holders, who later executed large secondary sales. On Jan. 5, 2026, JCAP announced a planned secondary offering with a concurrent 3,000,000-share repurchase. Today’s pricing announcement finalizes terms for that same transaction.

Market Pulse Summary

This announcement finalizes the terms of a secondary sale by existing shareholders alongside a 3,000,000-share repurchase by Jefferson Capital at $20.50 per share. It follows the January 5 launch of the same structure and reflects ongoing ownership transitions after the IPO. Investors may track how much of the 10,000,000-share sale is absorbed, any use of the underwriters’ 1,500,000-share option, and future capital return or secondary activity.

Key Terms

secondary public offering financial

"Jefferson Capital Announces Pricing of Secondary Public Offering and Concurrent Share Repurchase"

A secondary public offering is when a company sells additional shares to the public after its initial sale, often to raise more money or allow early investors to cash out. For investors, it can impact the stock's price by increasing the number of shares available, potentially making the stock more or less valuable depending on demand.

underwritten public offering financial

"announced the pricing of the underwritten public offering of 10,000,000 shares of common stock"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

share repurchase financial

"As part of the secondary offering, Jefferson Capital has agreed to concurrently purchase 3,000,000 shares"

A share repurchase is when a company uses cash to buy its own shares from the market, reducing the number of shares available to outside investors. Like a homeowner buying back rooms in a shared house to increase their own stake, repurchases can raise earnings per share and often signal management thinks the stock is undervalued, but they also use up cash that could have gone to dividends, investments, or debt reduction — all important considerations for investors.

registration statement regulatory

"A registration statement relating to the sale of these securities was declared effective"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

prospectus regulatory

"The offering is being made only by means of a prospectus."

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

Securities and Exchange Commission regulatory

"declared effective by the Securities and Exchange Commission on January 7, 2026."

A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.

book-running managers financial

"are acting as joint-lead book-running managers for the offering."

Book-running managers are the main banks or financial firms that organize and oversee a company's sale of new stocks or bonds. They help set the price, decide how many to sell, and coordinate the process to make sure everything runs smoothly. Their role is important because they guide the company through the complex process of raising money from investors.

AI-generated analysis. Not financial advice.

MINNEAPOLIS, Jan. 07, 2026 (GLOBE NEWSWIRE) -- Jefferson Capital, Inc. (Nasdaq: JCAP) (“Jefferson Capital”), a leading analytically driven purchaser and manager of charged-off, insolvency and active consumer accounts, today announced the pricing of the underwritten public offering of 10,000,000 shares of common stock by certain of its existing stockholders at a price to the public of $20.50 per share. In addition, the underwriters of the offering have a 30-day option to purchase from the selling stockholders up to 1,500,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The selling stockholders will receive all of the net proceeds from this offering. As part of the secondary offering, Jefferson Capital has agreed to concurrently purchase 3,000,000 shares of its common stock from the underwriters at a per-share purchase price equal to the price payable by the underwriters to the selling stockholders in the offering. The offering and the concurrent share repurchase are expected to close on January 9, 2026, subject to customary closing conditions.

Jefferies and Keefe, Bruyette & Woods, A Stifel Company, are acting as joint-lead book-running managers for the offering. Citizens Capital Markets, Raymond James, Truist Securities, Capital One Securities, DNB Carnegie, FHN Financial Securities Corp., ING Financial Markets LLC, KeyBanc Capital Markets, Regions Securities LLC, Synovus Securities, Inc. and Texas Capital Securities are acting as book-running managers for the offering.

A registration statement relating to the sale of these securities was declared effective by the Securities and Exchange Commission on January 7, 2026. The offering is being made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available, from: Jefferies LLC, at Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at 877-821-7388, or by email at prospectus_department@jefferies.com; or Keefe, Bruyette & Woods, Inc. by telephone at (800) 966-1559, or by e-mail at USCapitalMarkets@kbw.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Jefferson Capital, Inc.

Founded in 2002, Jefferson Capital is an analytically driven purchaser and manager of charged-off, insolvency and active consumer accounts with operations in the United States, Canada, the United Kingdom and Latin America. It purchases and services both secured and unsecured assets, and its growing client base includes Fortune 500 creditors, banks, fintech origination platforms, telecommunications providers, credit card issuers and auto finance companies. Jefferson Capital is headquartered in Minneapolis, Minnesota with additional offices and operations located in Sartell, Minnesota, Denver, Colorado and San Antonio, Texas (United States); Basingstoke, England, London, England and Paisley, Scotland (United Kingdom); London, Ontario and Toronto, Ontario (Canada); as well as Bogota (Colombia).

Contacts

Investor Relations
IR@jcap.com

Media Relations
Doug.Donsky@icrinc.com

Use of Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and in the U.S. Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: a deterioration in the economic or inflationary environment in the United States, Canada, the United Kingdom or Latin America, including the interest rate environment; our ability to replace our portfolios of nonperforming loans with additional portfolios sufficient to operate efficiently and profitably; our ability to collect sufficient amounts on our nonperforming loans to fund our operations; the possibility that third parties we rely on to conduct collection and other activities fail to perform their services; the possibility that we could recognize significant decreases in our estimate of future recoveries on nonperforming loans; changes in, or interpretations of, federal, state, local, or international laws, including bankruptcy and collection laws, or changes in the administrative practices of various bankruptcy courts, which could negatively impact our business or our ability to collect on nonperforming loans; goodwill impairment charges that could negatively impact our net income and stockholders’ equity; our ability to comply with existing and new regulations of the collection industry, the failure of which could result in penalties, fines, litigation, damage to our reputation, or the suspension or termination of or required modification to our ability to conduct our business; adverse outcomes in pending or future litigation or administrative proceedings; the possibility that class action suits and other litigation could divert management’s attention and increase our expenses; investigations, reviews, or enforcement actions by governmental authorities, including the Consumer Financial Protection Bureau, which could result in changes to our business practices, negatively impact our deployment volume, make collection of account balances more difficult, or expose us to the risk of fines, penalties, restitution payments, and litigation; the possibility that compliance with complex and evolving international and United States laws and regulations that apply to our international operations could increase our cost of doing business in international jurisdictions; our ability to comply with data privacy regulations such as the General Data Protection Regulation; our ability to retain, expand, renegotiate or replace our credit facility and our ability to comply with the covenants under our financing arrangements; our ability to refinance our indebtedness; our ability to service our outstanding indebtedness; changes in interest or exchange rates, which could reduce our net income, and the possibility that future hedging strategies may not be successful; and the possibility that we could incur business or technology disruptions or cybersecurity incidents. These and other important factors discussed under the caption “Risk Factors” in our Form S-1 filed with the SEC on January 5, 2026, in our Form 10-Q filed with the SEC on November 14, 2025 and our other filings with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

FAQ

What did Jefferson Capital (JCAP) announce on January 8, 2026 about a stock offering?

Jefferson Capital priced a secondary offering of 10,000,000 shares at $20.50 per share with a 30‑day option for up to 1,500,000 additional shares.

When is the JCAP offering expected to close and what is the SEC status?

The offering and concurrent repurchase are expected to close on January 9, 2026; a related registration statement was declared effective by the SEC on January 7, 2026.

Will Jefferson Capital receive the proceeds from the 10,000,000‑share offering (JCAP)?

No. The selling stockholders will receive all of the net proceeds from the offering.

What is the concurrent share repurchase Jefferson Capital agreed to in the offering (JCAP)?

Jefferson Capital agreed to purchase 3,000,000 shares from the underwriters at a per‑share price equal to the price paid to the selling stockholders.

How could the JCAP secondary offering affect current shareholders?

The sale by existing holders increases shares available for trading, which could create short‑term selling pressure around the closing period.

Where can investors obtain the final prospectus for the JCAP offering?

Copies of the final prospectus are available from Jefferies LLC or Keefe, Bruyette & Woods via the contact details provided by the underwriters.