Findell Capital Reiterates Desire for Compromise at Oportun Financial and Issues Statement on Behalf of Scott Parker
Findell Capital Partners, a major stockholder of Oportun Financial Corporation (NASDAQ: OPRT), has issued a statement reiterating its desire for a compromise with the company. Findell advocates for the addition of Warren Wilcox to Oportun's Board of Directors and supports the continued service of Scott Parker, a former independent director with public company CFO and consumer lending executive experience.
Findell expressed concern over the company spending millions in stockholder capital to oppose one of its largest owners and emphasized its willingness to engage in discussions that would benefit all stockholders. Scott Parker separately stated his willingness to continue serving as a board member, citing his experience and industry knowledge as valuable assets for enhancing shareholder value through board oversight.
Findell Capital Partners, uno dei principali azionisti di Oportun Financial Corporation (NASDAQ: OPRT), ha rilasciato una dichiarazione ribadendo il suo desiderio di trovare un compromesso con la società. Findell sostiene l'inserimento di Warren Wilcox nel Consiglio di Amministrazione di Oportun e appoggia la continuazione del mandato di Scott Parker, ex direttore indipendente con esperienza come CFO in società pubbliche e nel settore dei prestiti al consumo.
Findell ha espresso preoccupazione per il fatto che la società stia spendendo milioni di capitale degli azionisti per opporsi a uno dei suoi maggiori proprietari, sottolineando la sua disponibilità a intraprendere discussioni che possano avvantaggiare tutti gli azionisti. Separatamente, Scott Parker ha dichiarato la sua volontà di continuare a far parte del consiglio, evidenziando la sua esperienza e conoscenza del settore come risorse preziose per aumentare il valore per gli azionisti attraverso la supervisione del consiglio.
Findell Capital Partners, un accionista importante de Oportun Financial Corporation (NASDAQ: OPRT), ha emitido un comunicado reiterando su deseo de llegar a un compromiso con la empresa. Findell aboga por la incorporación de Warren Wilcox al Consejo de Administración de Oportun y apoya la continuidad de Scott Parker, un ex director independiente con experiencia como CFO en empresas públicas y en el sector de préstamos al consumidor.
Findell manifestó su preocupación por el gasto de millones de capital de los accionistas para oponerse a uno de sus mayores propietarios y enfatizó su disposición a entablar conversaciones que beneficien a todos los accionistas. Por separado, Scott Parker expresó su voluntad de continuar sirviendo como miembro del consejo, citando su experiencia y conocimiento de la industria como activos valiosos para mejorar el valor para los accionistas mediante la supervisión del consejo.
Findell Capital Partners는 Oportun Financial Corporation (NASDAQ: OPRT)의 주요 주주로서 회사와의 타협을 원한다는 입장을 재차 밝혔습니다. Findell은 Warren Wilcox를 Oportun 이사회에 추가할 것을 지지하며, 공기업 CFO 및 소비자 대출 분야 경력을 가진 전 독립 이사 Scott Parker의 계속된 이사회 활동도 지지하고 있습니다.
Findell은 회사가 주요 주주 중 한 명에 반대하기 위해 수백만 달러의 주주 자본을 사용하고 있는 점에 우려를 표명하며, 모든 주주에게 이익이 되는 논의를 할 의사가 있음을 강조했습니다. 별도로 Scott Parker는 자신의 경험과 업계 지식이 이사회의 감독을 통해 주주 가치를 높이는 데 중요한 자산임을 언급하며 이사회 멤버로 계속 봉사할 의사를 밝혔습니다.
Findell Capital Partners, un actionnaire important de Oportun Financial Corporation (NASDAQ: OPRT), a publié une déclaration réitérant son souhait de parvenir à un compromis avec la société. Findell plaide pour l'ajout de Warren Wilcox au conseil d'administration d'Oportun et soutient la poursuite du mandat de Scott Parker, un ancien administrateur indépendant doté d'une expérience de directeur financier dans des sociétés cotées et dans le secteur des prêts à la consommation.
Findell a exprimé son inquiétude quant au fait que la société dépense des millions de capitaux des actionnaires pour s'opposer à l'un de ses plus grands propriétaires, soulignant sa volonté d'engager des discussions bénéfiques pour tous les actionnaires. Scott Parker a déclaré séparément sa volonté de continuer à siéger au conseil, citant son expérience et sa connaissance du secteur comme des atouts précieux pour accroître la valeur pour les actionnaires grâce à la supervision du conseil.
Findell Capital Partners, ein bedeutender Aktionär von Oportun Financial Corporation (NASDAQ: OPRT), hat eine Erklärung veröffentlicht, in der es seinen Wunsch nach einem Kompromiss mit dem Unternehmen bekräftigt. Findell setzt sich für die Aufnahme von Warren Wilcox in den Vorstand von Oportun ein und unterstützt die weitere Tätigkeit von Scott Parker, einem ehemaligen unabhängigen Direktor mit Erfahrung als CFO in börsennotierten Unternehmen und im Verbraucherkreditwesen.
Findell äußerte Besorgnis darüber, dass das Unternehmen Millionen an Aktionärskapital aufwendet, um sich gegen einen seiner größten Eigentümer zu stellen, und betonte seine Bereitschaft, Gespräche zu führen, die allen Aktionären zugutekommen würden. Scott Parker erklärte separat seine Bereitschaft, weiterhin als Vorstandsmitglied zu dienen, und verwies auf seine Erfahrung und Branchenkenntnisse als wertvolle Ressourcen zur Steigerung des Aktionärswerts durch die Überwachung des Vorstands.
- None.
- Ongoing conflict between major shareholder and company management
- Company reportedly spending millions in stockholder capital on dispute
- Loss of experienced board member Scott Parker
Insights
Findell Capital's push for board changes at Oportun signals ongoing activist pressure that could reshape governance and strategy.
This press release reveals a significant activist investor situation at Oportun Financial, with Findell Capital (described as one of the company's largest stockholders) publicly pushing for board changes. Findell is specifically advocating for the addition of Warren Wilcox as a new director while supporting the continued service of Scott Parker, a former independent director.
The language indicates this is an ongoing proxy contest that has already become contentious and costly. Findell's statement that "millions of dollars in stockholder capital is being wasted" fighting with "one of the Company's largest owners" suggests this dispute has escalated substantially, likely involving proxy solicitation firms (as evidenced by Saratoga Proxy Consulting's contact information) and potentially legal costs.
This type of activist campaign typically signals investor dissatisfaction with either corporate performance, strategy, or governance. Findell emphasizes the need for "directors that possess lending expertise," suggesting they believe the current board lacks sufficient industry-specific knowledge to properly oversee Oportun's consumer lending business.
The public nature of this statement indicates that private negotiations have either stalled or broken down, though Findell is positioning itself as open to compromise. For investors, this situation creates uncertainty about Oportun's leadership structure and strategic direction, while simultaneously raising questions about the costs being incurred to defend against the activist campaign.
"We remain committed to reaching a good faith settlement with the Company in order to resolve this situation in a manner that can benefit all stockholders. We firmly believe that compromise can result in improved corporate governance and enhanced value creation under the leadership of directors that possess lending expertise.
We believe those goals can be accomplished by the addition of the experienced and highly qualified Warren Wilcox to the Company's Board of Directors. We also believe stockholders would be well served by the continued service of Scott Parker, who brought necessary expertise as a former public company CFO and consumer lending executive to his role as a director.
We urge the Board to put an end to the millions of dollars in stockholder capital that is being wasted to fight one of the Company's largest owners. We are ready and willing to engage with the Company on an outcome that will benefit all stockholders."
Scott Parker, former independent director on the Company's Board, added:
"I was willing to serve as a board member and continue to believe my prior experience and industry knowledge can help further enhance shareholder value at Oportun through strong board oversight."
Contact:
Findell Capital Management, LLC
88 Pine Street, 22nd Fl.
OR
Saratoga Proxy Consulting LLC
John Ferguson
View original content:https://www.prnewswire.com/news-releases/findell-capital-reiterates-desire-for-compromise-at-oportun-financial-and-issues-statement-on-behalf-of-scott-parker-302494743.html
SOURCE Findell Capital Management, LLC
FAQ
What is Findell Capital Partners requesting from Oportun Financial (NASDAQ: OPRT)?
Who is Scott Parker and what is his role at Oportun Financial (OPRT)?
What concerns has Findell Capital raised about Oportun Financial's (OPRT) current situation?
What solution is Findell Capital proposing for Oportun Financial (NASDAQ: OPRT)?
