FlexShopper (NASDAQ: FPAY) Announces Proposed Rights Offering and Dealer-Manager Agreement

FlexShopper, Inc. recently disclosed a significant move in its financial operations through a rights offering as per a Form 8-K report filed on December 2, 2024.

The company announced on November 27, 2024, its plans for a rights offering, known as the “Rights Offering,” intended to redistribute non-transferable subscription rights to its shareholders of common stock, series 1 convertible preferred stock, and series 2 convertible preferred stock. The Rights Offering includes the distribution of up to 35,000,000 units at a fixed subscription price. Each unit will comprise varying purchase rights entitling shareholders to acquire shares of common stock. The offering aims to issue a maximum of 70,000,000 shares of common stock.

FlexShopper detailed that the Rights Offering is in accordance with a registration statement on Form S-1 (File No. 333-282857), filed with the U.S. Securities and Exchange Commission (SEC), which was declared effective on November 29, 2024. Consequently, the company is supplementing the Rights Offering with ancillary documents filed alongside the Form 8-K for reference.

Moreover, an essential development in this context was the signing of a Dealer-Manager Agreement between FlexShopper and Moody Capital Solutions, Inc. on December 2, 2024. This agreement appoints Moody as the dealer-manager for the Rights Offering, facilitating key aspects of the offering process. Notably, the full text of this agreement is incorporated in the Form 8-K filing.

The announcement concluded by highlighting Forward-Looking Statements and the obligation to update future developments in accordance with legal requirements. Investors and concerned parties are encouraged to refer to the complete details in the official SEC filing for a comprehensive view of the offering.

For more details on FlexShopper’s Rights Offering, shareholders and interested parties are advised to reference the Form 8-K filing dated December 2, 2024, available on the SEC’s website. This strategic move could significantly shape FlexShopper’s financial landscape and corporate direction in the upcoming period.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read FlexShopper’s 8K filing here.

FlexShopper Company Profile

FlexShopper, Inc, a financial technology company, operates an e-commerce marketplace to shop electronics, home furnishings, and other durable goods on a lease-to-own (LTO) basis. The company offers consumer electronics; home appliances; computers, such as tablets and wearables; smartphones; tires; and jewelry and furniture, including accessories.