Elevate to be Acquired by Park Cities Asset Management
Summary
FORT WORTH, Texas--(BUSINESS WIRE)--Elevate Credit, Inc. (“Elevate” or the “Company”), a leading tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, today announced it has entered into a definitive agreement to be acquired by an affiliate of Park Cities Asset Management LLC (“Park Cities”), an alternative asset manager focused on providing flexible debt solutions. Park Cities has a long relationship with Elevate and currently provides corporate debt as well as financing for the Today Card product. Its responsible, tech-enabled online credit solutions provide immediate relief to customers today and help them build a brighter financial future. Elevate’s platform powers a suite of groundbreaking credit products includes RISE, Elastic, Today Card and Swell. Elevate and certain of its directors, executive officers and other members of management and employees may be deemed to be participants in soliciting proxies from its stockholders in connection with the Merger.