Home Financial Markets MRLN Stock Rose 50%. How Did That Happen?

MRLN Stock Rose 50%. How Did That Happen?

A rise of 50.70% amounted to $7.22 from the previous closing price at the end of Monday’s trading session was recorded for Marlin Business Services Corp. (NASDAQ: MRLN). During the trading session, Marlin stock hit a low point of $20.75 while soaring to a high of $22.90.

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In the last day’s trading session, the MRLN stock closed at $21.46 as reported by Barchart, while 1.57 million shares were traded. News of a purchase of all outstanding shares by an investment company pushed the MRLN stock price up.

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The transaction in brief:

Marlin is the largest nationwide provider of capital solutions to American small businesses. Its mission is to help American small businesses fulfill their American dream. The MRLN offers products and services directly to small businesses and through financing programs offered through independent equipment dealers.

A definitive agreement was reached between Marlin Business and HPS Investment Partners LLC yesterday, according to the MRLN.

  • Upon the agreement, HPS will purchase all of the outstanding shares of common stock of the MRLN through its European Asset Value Fund.
  • A cash transaction is expected to be completed for $23.50 per share, subject to downward adjustment if necessary.
  • Marlin’s closing share price of $14.24 on April 16, 2021, represents a premium of 65% on the acquisition deal.
  • HPS is one of the world’s leading investment firms with assets under management in excess of $68 billion as of March 2021.
  • Apart from managing the European Asset Value Funds equipment leasing platforms with approximately $4 billion of leases, HPS also manages various strategies across the capital structure.

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How does the deal impact MRLN?

The shareholders of MRLN stand to gain significantly from reaching agreement with HPS. The acquisition of MRLN represents a significant step forward in Marlin’s fundamental transformation into a comprehensive provider of credit products and services to small businesses and represents the most attractive opportunity to maximize shareholder value.

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