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Open Lending Corporation has agreed to be acquired by ANV Group Holdings through an all-cash tender offer. ANV will offer $3.15 per share for any and all outstanding Open Lending common stock, a price described as representing a roughly 78% premium to the company’s 90‑day average trading price.
After the tender offer, any remaining shares will be converted into the same cash amount in a follow-on merger, taking Open Lending private and removing its stock from Nasdaq. Open Lending’s board unanimously approved the deal, recommended that stockholders tender their shares, and key stockholders holding about 12.8% of shares have already agreed to support the transaction.
The offer is subject to customary conditions, including a majority of shares being tendered, required regulatory clearances, and no material adverse change. The merger agreement includes a $13.58 million termination fee in certain scenarios, and the parties target closing in the third quarter of 2026 if approvals and tender thresholds are met.
Open Lending Corporation reported that director William Dabbs Cavin resigned from its Board on June 8, 2026, effective immediately. The company stated that his resignation was not due to any dispute or disagreement regarding its operations, policies, or practices. The filing does not indicate any related changes to other directors, officers, or company strategy.
Cavin William Dabbs, a director of Open Lending Corp, has filed an initial Form 3 statement of beneficial ownership. The filing identifies him as a director but shows no reportable transactions or derivative positions in the provided data.
Open Lending Corp director Todd C. Hart acquired shares through equity compensation. On June 3, 2026, restricted stock units (RSUs) covering 13,933 shares of Open Lending common stock vested and converted into an equal number of common shares.
Each RSU represented a contingent right to receive one share of common stock, and following this exercise Hart directly held 13,933 common shares. The filing shows a routine compensation-related equity grant vesting, with no open‑market purchases or sales reported.
Open Lending Corp director Abhijit Chaudhary reported the vesting of restricted stock units that converted into common shares. On June 3, 2026, 14,943 restricted stock units vested and were exercised into 14,943 shares of LPRO common stock, all held directly after the transaction. Each unit represented a contingent right to receive one common share, and no open-market purchase or sale was reported in this filing.
Open Lending Corporation held its annual stockholder meeting and approved all five proposals on the agenda. Stockholders elected Jessica Buss and William Dabbs Cavin as Class III directors to serve until the 2029 annual meeting. They ratified Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, and approved a nonbinding advisory vote on compensation for the named executive officers. Stockholders also approved a proposal to declassify the board of directors and authorized an amendment to the certificate of incorporation to implement a reverse stock split in a ratio between 1-for-5 and 1-for-7, with a proportional reduction in authorized common shares, at the board’s discretion.
Open Lending Corp director Eric A. Feldstein acquired shares through RSU vesting, not open-market buying. On May 21, 2026, 76,530 restricted stock units converted into an equal number of common shares of LPRO. Following this equity grant vesting, Feldstein directly holds 122,686 shares of common stock.
Open Lending Corporation reported Q1 2026 revenue of $20.5 million, down 16% from Q1 2025, and a small net loss of $0.5 million versus prior-year net income of $0.6 million.
The business certified 21,064 auto loans, a 24% decline, which drove a 25% drop in program fee revenue. Profit share revenue edged up as average profit share per loan increased, and gross margin held at 76%. Adjusted EBITDA was $2.0 million, down from $3.2 million. The company ended the quarter with $185.0 million in cash and restricted cash and $82.9 million outstanding on its Term Loan due 2027, with no revolver borrowings. The board later expanded the share repurchase program from $25.0 million to $50.0 million, leaving $20.1 million available as of March 31, 2026.
Open Lending Corporation reported softer first quarter 2026 results alongside a larger buyback. Revenue was $20.5 million, down from $24.4 million a year earlier, as certified loans fell to 21,064 from 27,638. Gross profit was $15.6 million versus $18.3 million, and the company posted a small net loss of $0.5 million compared with net income of $0.6 million.
Adjusted EBITDA was $2.0 million, down from $3.2 million, while management highlighted a shift toward higher-quality, credit union and bank loans, which represented 90.2% of certified loans. For 2026, the company guides to 100,000–110,000 total certified loans and full-year Adjusted EBITDA of $25–$29 million. The board also increased the share repurchase program from $25 million to $50 million and extended it to May 1, 2027, with $20.1 million remaining as of March 31, 2026.
Open Lending Corp ownership update: Whetstone Capital Advisors, LLC and Mr. David Atterbury report beneficial ownership of 3,799,105 shares of Common Stock, representing 3.2% of the class as reported in this Schedule 13G/A. The filing lists shared voting and dispositive power over the same 3,799,105 shares. The signature block is dated 05/01/2026 and the cover shows 03/31/2026 as the period referenced.