ANV Group to Acquire Open Lending for $3.15 Per Share in $3.15 All-Cash Tender Offer

In a transaction that highlights the growing convergence of insurance and lending, ANV Group Holdings Ltd. — a global insurance intermediary platform — has agreed to acquire Open Lending Corporation (NASDAQ: LPRO), a leading provider of insurance-backed lending enablement and risk analytics solutions for financial institutions. The definitive merger agreement, announced June 16, 2026, values Open Lending at $3.15 per share in an all-cash tender offer.

The offer price represents a premium of approximately 78% to Open Lending's 90-day volume-weighted average price (VWAP) as of June 15, 2026, the last trading day before the announcement — a substantial premium reflecting ANV's strategic interest in the company's specialized capabilities. The transaction has been unanimously approved by Open Lending's Board of Directors and is expected to close in the third quarter of 2026, subject to customary closing conditions including regulatory approvals and the tender of a majority of outstanding shares.

Founded more than two decades ago, Open Lending partners with financial institutions and lenders across the United States to expand access to automotive financing through proprietary risk-decisioning technology and an insurance-backed credit structure. The company's model uses default insurance to enable lenders to extend credit to near-prime and non-prime borrowers who might otherwise be declined — a niche that fits directly into ANV's strategic roadmap.

ANV Group itself is a relatively new entity, established in December 2025 following a strategic transaction in which AmTrust Financial Services and Blackstone Credit & Insurance spun off a portfolio of AmTrust's managing general agencies and fee-based businesses into an independent company. ANV operates across the United States, United Kingdom, and Europe. Under the deal structure, ANV will commence the tender offer and, once more than 50% of shares are tendered, acquire remaining shares through a second-step merger at the same price. Upon completion, Open Lending will become privately held and delist from Nasdaq. Open Lending agreed to a termination fee of approximately $13.58 million under certain circumstances. Financial Technology Partners is advising Open Lending, with Evercore advising ANV.