News

Mogo Finance Technology to merge with Difference Capital Financial in stock swap

Mogo Finance Technology to merge with Difference Capital Financial in stock swap
Business
Once the transaction is complete, Mogo shareholders will own approximately 80 per cent of the combined company which is expected to be named Mogo Inc.

Mogo says the combination will give it access to approximately $9 million to $10 million in cash and give it control of Difference’s portfolio of investments, which collectively have an estimated fair market value of approximately $24 million.

Mogo offers users ways to help them manage and control their finances including products such as free credit score monitoring, identity fraud protection and consumer credit.

The deal is subject to Mogo and Difference shareholder approval, regulatory approval and satisfaction of other customary conditions. It is expected to close in the second quarter of 2019.
Read more on Toronto Star
News Topics :
Similar Articles :
Business
Mogo Finance Technology Inc. has closed a $15 million round of financing intended to help fund growth in the fintech lenders long term loan book, with its largest shareholder and Dragons...
Business
Online lender Mogo Financial Technology Inc. hopes to attract clients with a mobile application that gives them access to credit and loan products and services in under three minutes. The...
Business
“If you’re not angry, you should be. And we share your outrage. The labyrinth of confusing, overlapping and sometimes contradictory laws and policies designed to protect consumers simply isn’t strong...
Business
The company took a massive writedown in technology company WG Limited Ltd. in the fourth quarter. WG was one of the companys earliest investments and among its biggest disappointments. Difference...
Business
We last featured Mogo Finance Technology on June 17. The stock subsequently set a 52 week high of $8.59 on Nov. 29, but has pulled back. Nevertheless, it remains up more...