Breach Inlet Capital Issues Presentation Highlighting that PROG Holdings is a Misunderstood Transformation with Potential Catalysts

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CHARLESTON, S.C.--(BUSINESS WIRE)-- Breach Inlet Capital Management, LLC (“Breach Inlet Capital” or “we”) is a top 10 shareholder of PROG Holdings, Inc. (NYSE: PRG) (“PRG” or the “Company”) with ownership of approximately 3.0% of the shares outstanding. Today, we published an investment presentation outlining our view that the Company’s shares are materially undervalued and PRG could spin off its high-growth business to potentially correct the current mispricing.

Our presentation can be accessed here: https://breachinletcap.com/research.

About Breach Inlet Capital

Breach Inlet Capital is a boutique investment firm seeking to compound investors’ capital at a high rate through a concentrated portfolio of small cap companies undergoing transformation. The firm was founded in 2016 by Chris Colvin and is based in Charleston, SC.

Disclaimer

This press release is for informational purposes only and does not constitute investment advice or an offer to buy or sell any security. The views expressed represent the opinions of Breach Inlet Capital as of the date of this release and are subject to change without notice. Forward-looking statements, projections, and estimates are inherently uncertain and are not guarantees of future performance. Actual results may differ materially. Breach Inlet Capital holds approximately 2.7% of PRG's shares outstanding and has a long economic interest in the company. Breach Inlet Capital may buy or sell shares at any time without notice.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260910901623/en/

Breach Inlet Capital Management, LLC
Chris Colvin, CFA
Founder and Portfolio Manager
info@breachinletcap.com

Source: Breach Inlet Capital Management, LLC

Key Terms

shares outstanding financial

Shares outstanding are the total number of a company’s stock units held by all shareholders, including institutional investors and company insiders — think of them as the total number of slices of the company’s ownership pie. Investors use this number to calculate how much of the company each share represents, and it directly affects per-share measures like earnings per share, ownership percentage and valuation; when the slice count changes, an investor’s claim and the company’s per-share metrics change too.

spin off financial

A spin-off is when a company separates one part of its operations into a new, independent company and distributes shares of that new business to existing shareholders. Think of it like a parent splitting a large household into two smaller homes so each can manage its own budget and goals. Investors watch spin-offs because they can reveal hidden value, change growth and risk profiles, and create separate investment choices that may trade at different prices than the original company.

forward-looking statements regulatory

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.