Oportun To Sell Credit Card Portfolio To Continental Finance

(RTTNews) - Oportun (OPRT) said that it agreed to sell its credit card portfolio to Continental Finance.

The closing date is now anticipated to be on or around November 10, 2024, rather than by the end of the third quarter as indicated on the August 8th second quarter earnings call.

As a result of the revised closing date, the sale is now anticipated to contribute approximately $2 million to Adjusted EBITDA in 2024, down from the previously indicated $4 million.

Oportun continues to expect that the transaction will result in Adjusted EBITDA favorability of about $11 million in 2025.