OppFi (OPFI) to acquire BNCC for $19.375 cash + 1.90 shares per BNCC share; will become bank holding company

Filed August 6, 2026 · ~2 min read

Key Changes

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  OppFi acquiring BNCCORP for $19.375 cash plus 1.90 shares of OppFi Class A Common Stock per BNCC share; expects to issue ~6.8M shares to BNCC stockholders, who will own ~7.4% of the combined company post-merger.

  Risk Factors verify on EDGAR →
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  Transaction will subject OppFi to bank holding company regulation by the Federal Reserve for the first time. OppFi states it has no prior experience with this supervision and compliance will require substantial time, monetary, and human resources.

  Risk Factors verify on EDGAR →
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  BNCC's commercial real estate loans total $256M (34.9% of total loan portfolio) as of March 31, 2026. Office sector vacancy rates have risen amid structural shifts from remote work that could take years to materialize.

  Risk Factors verify on EDGAR →