Findell Capital Issues Rebuttal Presentation on Oportun Financial and Notes Support of Oportun Founder and Former CEO James Gutierrez

Rhea-AI Summary

Findell Capital Partners, a major stockholder of Oportun Financial (NASDAQ: OPRT), has issued a rebuttal presentation addressing the company's June 18th statements. The investment firm received support from Oportun's founder and former CEO James Gutierrez, who endorsed their plan to restore value and supported the election of Warren Wilcox to replace current board member Raul Vazquez.

Findell aims to strengthen Oportun's Board through improved lending industry credentials, independence, and management oversight at the upcoming 2025 Annual Meeting of Stockholders. The firm criticizes the company for forcing a costly proxy contest by refusing to fill board leadership positions with experienced independent directors and removing former OneMain Financial CFO Scott Parker from the board.

Positive

• Support from company founder and former CEO James Gutierrez adds credibility to Findell's proposals
• Potential board strengthening through addition of lending industry veteran Warren Wilcox
• Initiative to improve board independence and oversight

Negative

• Ongoing costly proxy contest indicating internal governance conflicts
• Significant underperformance compared to peers noted before Findell's involvement
• Removal of experienced board member Scott Parker (former OneMain Financial CFO)

News Market Reaction

+3.67%

1 alert

+3.67% News Effect

On the day this news was published, OPRT gained 3.67%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Highlights the Support of Oportun Founder and Former CEO James Gutierrez, who Wrote that Findell Has "Offered a Smart, Focused Plan to Restore Value"

Outlines How the Company Forced a Costly Proxy Contest by Refusing to Fill Board Leadership Positions with Independent Directors Who Possess Lending Industry Experience and by Ousting Former OneMain Financial CFO Scott Parker from the Board

Makes Clear That Removing Failed CEO Raul Vazquez from the Board Would Strengthen the Board's Oversight of Management

Reiterates That Oportun Significantly Underperformed Peers Prior to Findell's Involvement – and That Further Board Refreshment Is Needed to Prevent Additional Value Destruction

NEW YORK, June 23, 2025 /PRNewswire/ -- Findell Capital Partners, LP, (together with its affiliates, "Findell," "we" or "us") one of the largest stockholders of Oportun Financial Corporation (NASDAQ: OPRT) ("Oportun" or the "Company"), today issued a rebuttal presentation correcting false and misleading statements made in the Company's June 18^th presentation.

Earlier today, Oportun Founder and former CEO James Gutierrez released an open letter to stockholders: see here . In the letter, Mr. Gutierrez expressed support for Findell's case for boardroom change at Oportun, writing that "Findell Capital has accurately diagnosed the root causes of this [valuation] gap and offered a smart, focused plan to restore value." He also endorsed the election of Warren Wilcox to the Board of Directors (the "Board") in place of Raul Vazquez.

Findell is seeking to strengthen the Board's lending industry credentials, independence and oversight of management at the 2025 Annual Meeting of Stockholders. We urge stockholders to vote today FOR the election of independent lending industry veteran Warren Wilcox to the Board on the WHITE proxy card.

Visit www.OpportunityAtOportun.com  to learn more.

Contact:

Findell Capital Management, LLC
88 Pine Street, 22nd Fl.
New York, NY 10005
info@findell.us

OR

Saratoga Proxy Consulting LLC
John Ferguson
info@saratogaproxy.com

View original content:https://www.prnewswire.com/news-releases/findell-capital-issues-rebuttal-presentation-on-oportun-financial-and-notes-support-of-oportun-founder-and-former-ceo-james-gutierrez-302488699.html

SOURCE Findell Capital Management, LLC

FAQ

What changes is Findell Capital proposing for Oportun Financial's (OPRT) board?

Findell Capital is proposing to elect Warren Wilcox to replace Raul Vazquez on the Board, aiming to strengthen the board's lending industry credentials, independence, and management oversight.

Who supports Findell Capital's proposed changes at Oportun (OPRT)?

Oportun's founder and former CEO James Gutierrez has publicly supported Findell's proposals, stating they have 'offered a smart, focused plan to restore value.'

Why is there a proxy contest at Oportun Financial (OPRT)?

The proxy contest arose because the company allegedly refused to fill board leadership positions with independent directors having lending industry experience and removed former OneMain Financial CFO Scott Parker from the board.

When is Oportun's (OPRT) 2025 Annual Meeting of Stockholders?

While the exact date isn't specified in the press release, the Annual Meeting of Stockholders is scheduled for 2025, where shareholders will vote on the proposed board changes.