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BRIEF-Axis Auto Finance To Acquire Trend Financial For $29.3 Mln

Published 2018-03-06, 05:57 p/m
© Reuters.  BRIEF-Axis Auto Finance To Acquire Trend Financial For $29.3 Mln
AXIS
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March 6 (Reuters) - Axis Auto Finance Inc AXIS.V :

* AXIS AUTO FINANCE SIGNS DEFINITIVE AGREEMENT TO ACQUIRETRENDFINANCIAL CORP. AND ANNOUNCES THE APPOINTMENT OF TODD HUDSON ASCEO

* AXIS AUTO FINANCE INC - ‍ACQUISITION OF TREND FINANCIALROUGHLYDOUBLES AXIS' PORTFOLIO OF NET FINANCE ASSETS TO ABOUT $110MILLION​

* AXIS AUTO FINANCE INC - ‍TRANSACTION IS EXPECTED TO BEIMMEDIATELY ACCRETIVE TO AXIS' ADJUSTED EARNINGS AND BOOK VALUE​

* AXIS AUTO FINANCE INC - ‍ILJA TROITSCHANSKI TO REMAIN ASPRESIDENT OF AS AXIS​

* AXIS AUTO FINANCE INC - DEAL FOR ‍CONSIDERATION OFAPPROXIMATELY$29.3 MILLION​

* AXIS AUTO FINANCE - PLANS TO FUND DEAL THROUGH PRIVATEPLACEMENTOFFERING OF SUBSCRIPTION RECEIPTS, EXTENDIBLE CONVERTIBLEDEBENTURES​

* AXIS AUTO FINANCE- DEAL PURCHASE PRICE TO BE SATISFIED BYABOUT$23.9 MILLION CASH, ISSUANCE OF ABOUT 6.95 MILLION SHARES, 6.6MILLION SHARE PURCHASE WARRANTS

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