Open lending corporation announces pricing of upsized secondary offering

Austin, texas, dec. 09, 2020 (globe newswire) -- open lending corporation, (“open lending”) (nasdaq: lpro), a leading provider of lending enablement and risk analytics to credit unions, regional banks and captive finance companies of original equipment manufacturers, announced today the pricing of a secondary public offering of 9,500,000 shares of its common stock at a public offering price of $28.00 per share. the offering was upsized from the previously announced offering size of 8,000,000 shares. all shares are being sold by existing stockholders, including nebula holdings, llc., a true wind capital, l.p. managed entity, bregal sagemount and certain executive officers of open lending. the selling stockholders have also granted the underwriters a 30-day option to purchase up to 1,425,000 additional shares of common stock. open lending is not selling any shares and will not receive any of the proceeds of the offering. the offering is expected to close on december 14, 2020, subject to customary closing conditions.
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