Finwise Bancorp Files 8-K on Material Agreement & Financial Results

TL;DR

**Finwise Bancorp just dropped an 8-K about a major new deal and financial results, get ready for potential stock movement.**

AI Summary

Finwise Bancorp filed an 8-K on January 29, 2024, reporting an event that occurred on January 26, 2024, related to an 'Entry into a Material Definitive Agreement' and 'Results of Operations and Financial Condition'. This filing indicates that the company has entered into a significant new agreement and will be disclosing financial results, which could impact its future performance and stock valuation. Investors should pay close attention to the details of the agreement and the financial results, as they will directly influence the company's profitability and growth prospects.

Why It Matters

This filing signals that Finwise Bancorp has made a significant business move and will soon reveal its financial health, both of which are critical for assessing the company's future stock performance.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and financial results, which could be positive or negative, creating uncertainty for investors.

Analyst Insight

Investors should await the full details of the 'Material Definitive Agreement' and the 'Results of Operations and Financial Condition' to make informed decisions, as this 8-K is a precursor to more specific financial disclosures.

Key Players & Entities

• Finwise Bancorp (company) — registrant filing the 8-K
• January 26, 2024 (date) — date of earliest event reported
• January 29, 2024 (date) — date of 8-K filing
• 001-40721 (other) — Commission file number
• 83-0356689 (other) — I.R.S. employer identification number

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share FINW The NASDAQ Stock Market

Filing Documents

• finw-20240126.htm (8-K) — 36KB
• fin-20231231earningsrelease.htm (EX-99.1) — 646KB
• bfgamendedagreement.htm (EX-10.1) — 3KB
• image.jpg (GRAPHIC) — 82KB
• image1.jpg (GRAPHIC) — 46KB
• image2.jpg (GRAPHIC) — 52KB
• image3.jpg (GRAPHIC) — 46KB
• image4.jpg (GRAPHIC) — 209KB
• image5.jpg (GRAPHIC) — 187KB
• image_0.jpg (GRAPHIC) — 5KB
• 0001856365-24-000003.txt ( ) — 1722KB
• finw-20240126.xsd (EX-101.SCH) — 2KB
• finw-20240126_lab.xml (EX-101.LAB) — 24KB
• finw-20240126_pre.xml (EX-101.PRE) — 13KB
• finw-20240126_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement As previously disclosed, on July 25, 2023, FinWise Bancorp (the "Company") entered into a Membership Interest Purchase Agreement (the "Purchase Agreement") with Business Funding Group, LLC ("BFG") and four members of BFG ("Sellers"). On January 26, 2024, the Company and the Sellers entered into an Amendment to the Purchase Agreement (the "Amendment") pursuant to which: a. The Company will acquire an additional 10% nonvoting ownership interest in BFG (the "Transaction"). When combined with the Company's existing 4.7% voting ownership interest and 5.3% nonvoting ownership interest, following the Company's acquisition in the Transaction of such additional 10% nonvoting ownership interest in BFG, the Company will have a 20% ownership interest in BFG comprising a 4.7% voting ownership interest and a 15.3% nonvoting ownership interest; b. At the closing of the Transaction (the "Closing"), the Company will issue in the aggregate 339,176 shares of Common Stock of the Company, par value $0.001 per share, in a private placement to the Sellers in exchange for their 10% aggregate ownership interest in BFG; and c. Either of the Company or the Sellers may terminate the Purchase Agreement if any condition to its or their obligations, as the case may be, have not been satisfied by February 29, 2024. The foregoing description of the Amendment and the Transaction does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated into this Item 1.01 by reference. This Current Report on Form 8-K (this "Report") contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's current views with respect to, among other things, future events and its financial performance. These sta

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. Attached and incorporated herein by reference as Exhibit 99.1 is a copy of a press release of FinWise Bancorp (the "Company"), dated January 29, 2024, reporting the Company's financial results for the fiscal quarter ended December 31, 2023. The information set forth under this "Item 2.02 Results of Operations and Financial Condition," including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment to Membership Interest Purchase Agreement, dated January 26, 2024 99.1 Press Release dated January 29, 2024 104 Cover Page Interactive Data File (embedded with the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, FinWise Bancorp has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DATE: January 29, 2024 FINWISE BANCORP /s/ Javvis Jacobson Name: Javvis Jacobson Title: Chief Financial Officer and Executive Vice President

View Full Filing

View this 8-K filing on SEC EDGAR