Oportun Responds to Comments by Findell Capital
Oportun (NASDAQ:OPRT), a mission-driven financial services company, has issued a response to recent comments from Findell Capital Management, LLC. The company states it has been actively seeking a resolution with Findell for months, including multiple formal proposals for Board composition changes.
The company reports it has made recent efforts to streamline its Board, including the decision not to renominate Lead Independent Director Neil Williams and director Scott Parker. This decision was made to rebalance the Board's expertise, noting that both Williams and Parker are former public company CFOs, while the Board maintains three other directors with similar financial backgrounds.
Oportun emphasizes its continued openness to constructive engagement with Findell to resolve the ongoing proxy contest in a manner that benefits all stockholders.
Oportun (NASDAQ:OPRT), un'azienda di servizi finanziari con una missione sociale, ha risposto ai recenti commenti di Findell Capital Management, LLC. La società afferma di aver cercato attivamente una soluzione con Findell per mesi, presentando anche diverse proposte formali riguardanti la composizione del Consiglio di Amministrazione.
La società riferisce di aver recentemente lavorato per snellire il Consiglio, decidendo di non rinominare il Lead Independent Director Neil Williams e il direttore Scott Parker. Questa scelta è stata fatta per riequilibrare le competenze del Consiglio, sottolineando che sia Williams sia Parker sono ex CFO di società pubbliche, mentre il Consiglio mantiene altri tre membri con esperienze finanziarie simili.
Oportun ribadisce la sua disponibilità a un dialogo costruttivo con Findell per risolvere la contesa in corso sulle deleghe in modo vantaggioso per tutti gli azionisti.
Oportun (NASDAQ:OPRT), una empresa de servicios financieros con una misión social, ha respondido a los recientes comentarios de Findell Capital Management, LLC. La compañía afirma que ha estado buscando activamente una solución con Findell durante meses, incluyendo múltiples propuestas formales para cambios en la composición de la Junta Directiva.
La empresa informa que ha realizado esfuerzos recientes para optimizar su Junta, incluyendo la decisión de no volver a nominar al Director Independiente Principal Neil Williams y al director Scott Parker. Esta decisión se tomó para reequilibrar la experiencia de la Junta, señalando que tanto Williams como Parker son ex directores financieros de empresas públicas, mientras que la Junta mantiene a otros tres directores con antecedentes financieros similares.
Oportun enfatiza su continua disposición a un compromiso constructivo con Findell para resolver la disputa actual sobre el poder de voto de manera que beneficie a todos los accionistas.
Oportun (NASDAQ:OPRT)은 사회적 사명을 가진 금융 서비스 회사로서 Findell Capital Management, LLC의 최근 발언에 대해 입장을 발표했습니다. 회사는 수개월 동안 Findell과의 해결책을 적극적으로 모색해 왔으며, 이사회 구성 변경에 관한 여러 공식 제안을 포함했다고 밝혔습니다.
회사는 최근 이사회를 간소화하기 위한 노력을 기울였으며, 수석 독립 이사인 Neil Williams와 이사 Scott Parker를 재지명하지 않기로 결정했다고 보고했습니다. 이 결정은 이사회의 전문성을 재조정하기 위한 것으로, Williams와 Parker 모두 전직 상장사 CFO인 반면, 이사회에는 유사한 재무 배경을 가진 다른 세 명의 이사가 있다고 설명했습니다.
Oportun은 모든 주주에게 이익이 되는 방식으로 진행 중인 위임장 분쟁을 해결하기 위해 Findell과의 건설적인 협력에 계속 열려 있음을 강조했습니다.
Oportun (NASDAQ:OPRT), une entreprise de services financiers animée par une mission, a répondu aux récents commentaires de Findell Capital Management, LLC. La société déclare avoir activement cherché une solution avec Findell depuis plusieurs mois, incluant plusieurs propositions formelles concernant la composition du conseil d'administration.
La société indique avoir récemment entrepris des efforts pour rationaliser son conseil, notamment en décidant de ne pas renommer le directeur indépendant principal Neil Williams et le directeur Scott Parker. Cette décision a été prise afin de rééquilibrer l'expertise du conseil, soulignant que Williams et Parker sont tous deux d'anciens directeurs financiers de sociétés cotées, tandis que le conseil compte trois autres administrateurs ayant des profils financiers similaires.
Oportun souligne sa volonté continue d'engager un dialogue constructif avec Findell pour résoudre le conflit actuel autour des procurations d'une manière bénéfique pour tous les actionnaires.
Oportun (NASDAQ:OPRT), ein finanzielles Dienstleistungsunternehmen mit einer Mission, hat auf kürzliche Kommentare von Findell Capital Management, LLC reagiert. Das Unternehmen gibt an, seit Monaten aktiv eine Lösung mit Findell zu suchen, einschließlich mehrerer formeller Vorschläge zur Änderung der Zusammensetzung des Vorstands.
Das Unternehmen berichtet, dass es kürzlich Anstrengungen unternommen hat, den Vorstand zu straffen, einschließlich der Entscheidung, den leitenden unabhängigen Direktor Neil Williams und den Direktor Scott Parker nicht erneut zu nominieren. Diese Entscheidung wurde getroffen, um die Expertise des Vorstands neu auszubalancieren, wobei darauf hingewiesen wird, dass sowohl Williams als auch Parker ehemalige CFOs börsennotierter Unternehmen sind, während der Vorstand drei weitere Direktoren mit ähnlichem finanziellem Hintergrund behält.
Oportun betont seine fortwährende Offenheit für eine konstruktive Zusammenarbeit mit Findell, um den laufenden Proxy-Kampf zugunsten aller Aktionäre zu lösen.
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Reiterates openness and ongoing efforts to reach constructive compromise with Findell
Highlights Board actions to streamline and rebalance director skills in service of all stockholders
SAN CARLOS, Calif., July 01, 2025 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT) (“Oportun” or the “Company”), a mission-driven financial services company, today issued a statement in response to recent comments made by Findell Capital Management, LLC (“Findell”):
“As described in detail in our investor presentation, Oportun has sought a resolution with Findell for months. We have delivered to Findell multiple formal proposals that involved changes to the Board’s composition, including as recently as the week before last. Findell has not responded to this latest offer.
The Board’s decision to reduce the number of directors and rebalance the Board’s skills and experience, including the decision not to nominate incumbent Lead Independent Director Neil Williams and director Scott Parker, was the result of careful review of the Board’s expertise and needs and reflects stockholder feedback. Both Mr. Williams and Mr. Parker are former public company Chief Financial Officers; the Board has three other directors with similar backgrounds in finance and accounting.
The Company remains committed to engaging constructively with Findell and willing to resolve the proxy contest on terms that serve the best interests of all our stockholders.”
About Oportun
Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members' financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than
Cautionary Statement on Forward-Looking Statements
Certain statements in this communication are “forward-looking statements.” These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this communication, including statements as to our future engagement with Findell and the proxy contest, are forward-looking statements. These statements can be generally identified by terms such as “expect,” “plan,” “goal,” “target,” “anticipate,” “assume,” “predict,” “project,” “outlook,” “continue,” “due,” “may,” “believe,” “seek,” or “estimate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” These statements involve known and unknown risks, uncertainties, assumptions and other 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. We have based these forward-looking statements on our current expectations and projections about future events, financial trends and risks and uncertainties that we believe may affect our business, financial condition and results of operations. These risks and uncertainties include those risks described in our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K for the year ended December 31, 2024, as well as our subsequent filings with the SEC. These forward-looking statements speak only as of the date on which they are made and, except to the extent required by federal securities laws, we disclaim any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements.
Investor Contact
Dorian Hare
(650) 590-4323
ir@oportun.com
Innisfree M&A Incorporated
Scott Winter / Gabrielle Wolf / Jonathan Kovacs
(212) 750-5833
Media Contact
FGS Global
John Christiansen / Bryan Locke
Oportun@fgsglobal.com
FAQ
What changes is Oportun (OPRT) making to its Board of Directors?
How has Oportun (OPRT) responded to Findell Capital's comments?
Why did Oportun (OPRT) decide not to renominate Neil Williams and Scott Parker?
What is the current status of negotiations between Oportun (OPRT) and Findell Capital?
