$85.900
+0.198 (+0.23%)At close
ML News
ML Events
MoneyLion, DailyPay sued by New York AG over 'high-interest loans'
New York Attorney General Letitia James said via X that the state is suing payday lenders MoneyLion and DailyPay "for taking advantage of tens of thousands of New Yorkers with illegal high-interest loans." James added, "Their products are payday loans by another name and these companies charge New Yorkers outrageous interest rates of up to 750%."
MoneyLion shareholders approve proposed acquisition by Gen Digital
MoneyLion "announced that its stockholders voted to approve the definitive agreement with Gen Digital Inc. As previously announced, under the terms of the definitive agreement, each share of MoneyLion's Class A common stock that is issued and outstanding as of immediately prior to the effective time of the acquisition will be automatically cancelled, extinguished and converted into the right to receive $82.00 in cash, without interest thereon, and one contingent value right that entitles the holder to a contingent payment of 0.7546 shares of Gen common stock if Gen Digital's average volume-weighted average share price reaches at least $37.50 per share over 30 consecutive trading days from December 10, 2024 until 24 months after close."
MoneyLion reports Q4 EPS 76c, consensus $1.49
Reports Q4 revenue $158.6M , consensus $150.34M."2024 was MoneyLion's strongest year ever, with a number of records driven by exceptional execution. Revenue growth accelerated by nearly 30% year-over-year to $546 million, and we achieved record Adjusted EBITDA, demonstrating clear proof of our thriving ecosystem," said Dee Choubey, MoneyLion's Co-Founder and Chief Executive Officer. Total Customers grew 46% year-over-year to 20.4 million in the full year of 2024. Total Products grew 48% year-over-year to 34.1 million for the full year of 2024. Total Originations grew 32% year-over-year to $853 million for the fourth quarter of 2024 and 38% year-over-year to $3.1 billion for the full year of 2024.
Gen Digital acquires MoneyLion for $82 per share
Gen Digital (GEN) has entered into a definitive agreement to acquire MoneyLion (ML), a leading digital ecosystem for consumer finance that empowers everyone to make their best financial decisions. Through this acquisition, MoneyLion extends Gen's identity solutions into offering comprehensive financial wellness through MoneyLion's full-featured personal finance platform that includes credit building and financial management services. The boards of both Gen and MoneyLion have unanimously approved the proposed acquisition of MoneyLion by Gen for $82.00 per share in cash payable at closing, representing a cash value of approximately $1B. In addition, for each share owned, MoneyLion shareholders will receive at closing one contingent value right that entitles the holder to a contingent payment of $23.00 in the form of shares of Gen common stock if Gen's average volume-weighted average share price reaches at least $37.50 per share over 30 consecutive trading days from December 10, 2024 until 24 months after close. There can be no assurance that any payments will be made with respect to CVRs. It is expected that the CVRs will be listed on the Nasdaq Stock Market. Closing of the proposed acquisition is expected to occur in the first half of Gen's FY26, with no impact to Gen's FY25 guidance. The acquisition is accretive to non-GAAP EPS, and the company re-affirms its commitment of net leverage below 3x EBITDA by FY27.
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.