NetworkNewsBreaks – IEG Holdings Corp. (IEGH) Pu
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Posted On: 01/23/2018 5:31:59 PM
NetworkNewsBreaks – IEG Holdings Corp. (IEGH) Pushes for Negotiations Related to LendingClub Offer
Consumer loan provider IEG Holdings Corp. (OTCQB: IEGH) this morning issued a news release urging LendingClub Corporation (NYSE: LC) to enter negotiations related to the former’s tender offer to acquire approximately 4.99 percent of LendingClub’s outstanding shares. The offer, which is scheduled to expire on Thursday, February 22, 2018, comes as IEGH has identified what it believes to be “major risks and problems” with LendingClub’s business model and management strategy. IEGH believes that by altering this model to a balance sheet lender model, LendingClub would be able to generate significantly higher margins, provide substantially higher long duration cash flow, build increased goodwill with customers and enable increased customer refinancing. IEGH also highlights blockchain technology as a means of increasing LendingClub’s cash flow security and transparency. IEGH’s tender offer calls for the exchange of 13 shares of IEGH common stock for each share of LendingClub common stock, up to an aggregate of 20,701,999 LendingClub shares.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Consumer loan provider IEG Holdings Corp. (OTCQB: IEGH) this morning issued a news release urging LendingClub Corporation (NYSE: LC) to enter negotiations related to the former’s tender offer to acquire approximately 4.99 percent of LendingClub’s outstanding shares. The offer, which is scheduled to expire on Thursday, February 22, 2018, comes as IEGH has identified what it believes to be “major risks and problems” with LendingClub’s business model and management strategy. IEGH believes that by altering this model to a balance sheet lender model, LendingClub would be able to generate significantly higher margins, provide substantially higher long duration cash flow, build increased goodwill with customers and enable increased customer refinancing. IEGH also highlights blockchain technology as a means of increasing LendingClub’s cash flow security and transparency. IEGH’s tender offer calls for the exchange of 13 shares of IEGH common stock for each share of LendingClub common stock, up to an aggregate of 20,701,999 LendingClub shares.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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