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Subsequent Events
3 Months Ended
Mar. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
The Company has evaluated the impact of events that have occurred subsequent to March 31, 2021, through May 14, 2021, the date which the condensed consolidated financial statements were available to be issued. Based on the evaluation, the Company has determined no subsequent events were required to be recognized or disclosed except the matters described below.

Prodigy Software, Inc. Acquisition

On April 8, 2021, the Company completed its acquisition of Prodigy Software, Inc. (“Prodigy”). Prodigy provides an e-commerce platform for car dealerships which enables both online and in-store vehicle discovery, credit application, and checkout. The Company has acquired Prodigy with the intention of integrating its lending business with Prodigy’s auto-sales platform and expanding its auto lending footprint.

The total consideration the Company paid for Prodigy was approximately $98.8 million and consisted of cash and shares of the Company’s common stock. On the closing date, the Company paid $18.0 million in cash and issued 650,767 shares of common stock.

Due to the proximity of the acquisition date to the Company’s filing of its quarterly report on Form 10-Q for the quarter ended March 31, 2021, the initial accounting for the Prodigy business combination is underway, and therefore the Company has not yet disclosed certain information required by ASC 805, Business Combinations, including the provisional amounts recognized as of the acquisition date for each major class of assets acquired, liabilities assumed, and goodwill.

Follow-on Offering
On April 13, 2021, the Company completed a follow-on offering, in which 2,000,000 shares of common stock, and the underwriters exercise to purchase 300,000 shares, were issued and sold at $120.00 per share. The Company received net proceeds of $263.9 million after deducting underwriting discounts of $11.0 million and offering expenses of $1.0 million. Offering expense consist of incremental accounting, legal, and other fees incurred related to the follow-on offering.