World Acceptance Corp. to be Acquired for $1.2 Billion

TL;DR

WRLD going private! Acquired by One Place Capital for $21/share, deal worth $1.2B.

AI Summary

World Acceptance Corp. announced on May 15, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of One Place Capital LLC. The transaction is valued at approximately $1.2 billion, representing $21.00 per share in cash. The acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition signifies a major change in ownership for World Acceptance Corp., potentially impacting its strategic direction and operations under new management.

Risk Assessment

Risk Level: medium — The deal is subject to customary closing conditions, and there's always a risk of regulatory hurdles or financing issues in large M&A transactions.

Key Numbers

• $1.2B — Transaction Value (Total amount to be paid for World Acceptance Corp.)
• $21.00 — Price Per Share (Cash amount each shareholder will receive)

Key Players & Entities

• World Acceptance Corp. (company) — Company being acquired
• One Place Capital LLC (company) — Acquiring entity
• $1.2 billion (dollar_amount) — Total transaction value
• $21.00 (dollar_amount) — Price per share
• May 15, 2024 (date) — Date of announcement
• third quarter of 2024 (date) — Expected closing period

FAQ

Key Financial Figures

• $20.0 million — orizing the Company to repurchase up to $20.0 million of its outstanding common stock inclusi

Filing Documents

• wrld-20240515.htm (8-K) — 27KB
• 0000108385-24-000021.txt ( ) — 148KB
• wrld-20240515.xsd (EX-101.SCH) — 2KB
• wrld-20240515_lab.xml (EX-101.LAB) — 21KB
• wrld-20240515_pre.xml (EX-101.PRE) — 12KB
• wrld-20240515_htm.xml (XML) — 3KB

01. Other Events

Item 8.01. Other Events On May 15, 2024, the Board of Directors of World Acceptance Corporation (the "Company") approved a share repurchase program authorizing the Company to repurchase up to $20.0 million of its outstanding common stock inclusive of any amount that remains available for repurchase under prior repurchase authorizations. The timing and actual number of shares repurchased will depend on a variety of factors, including the stock price, corporate and regulatory requirements, available funds, alternative uses of capital, restrictions under the Revolving Credit Agreement, and other market and economic conditions. The Company's stock repurchase program may be suspended or discontinued at any time. 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WORLD ACCEPTANCE CORPORATION By: /s/ John L. Calmes, Jr. John L. Calmes, Jr. Executive Vice President and Chief Financial and Strategy Officer Date: May 21, 2024 2

View Full Filing

View this 8-K filing on SEC EDGAR