Axis Initiates a Strategic Review
20 Février 2024 - 3:57PM
Business Wire
Axis Auto Finance Inc. (“Axis” or the “Company”) (TSX: AXIS), a
fintech lender changing the way Canadians finance used vehicles,
announces that it has initiated a review of strategic alternatives
to maximize shareholder value and in connection therewith has
formed a special committee of independent directors (the "Special
Committee") to oversee this process.
In response to incoming expressions of interest, Axis through
the Special Committee, will evaluate a range of alternatives to
determine the best path forward to maximize value for shareholders.
Alternatives may include the sale of certain assets, or a potential
sale or merger of the Company as well as other strategic
options.
The Board has not set a timetable to complete the strategic
review process nor have any decisions been made relating to
strategic alternatives at this time. There can be no assurance that
the strategic review and the preliminary non-binding discussions
will result in any binding offer or any other transaction, or of
the pricing of any such possible transaction. Axis will provide
updates when further information becomes available.
About Axis Auto Finance
Axis is a fintech lender providing alternative used vehicle
financing options to non-prime borrowers. Axis loans are offered
through over 3,000 automotive dealers nationwide. Approximately 30%
of Canadians (Source: Equifax) that have credit scores in the
non-prime range. All Axis auto loans report to the credit bureau,
resulting in over 70% of customers seeing a significant improvement
of their credit scores. Further information on the Company can be
found at
https://www.axisfinancegroup.com/investors-press-releases/.
Forward-Looking Statements
This news release contains "forward-looking statements" within
the meaning of applicable Canadian securities laws, which reflect
the current expectations of management of the Company's future
growth, results of operations, performance and business prospects
and opportunities. Forward-looking statements are frequently, but
not always, identified by words such as "may", "would", "could",
"will", "anticipate", "believe", "plan", "expect", "intend",
"estimate", "potential for" and similar expressions, although these
words may not be present in all forward-looking statements.
Forward-looking statements in this press release includes, but are
not limited to: statements regarding the Company's strategic review
process and the potential outcome thereof; approval of any
transactions resulting of the strategic review process; the
possible impact of any potential transactions referenced herein on
the Company's shareholders; and statements with respect to the
business plans of the Company.
These forward-looking statements reflect management's current
beliefs with respect to future events and are based on information
currently available to management that, while considered reasonable
by management as of the date on which the statements are made, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies which could result in
actions, events, conditions, results, performance or achievements
to be materially different from those projected in the
forward-looking statements. Forward-looking statements involve
significant risks, uncertainties and assumptions and many factors
could cause the Company's actual results, performance or
achievements to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements. Such factors and assumptions
include, but are not limited to, the Company's ability to retain
key personnel; its ability to execute on its business plans and
strategies; and the sufficiency of its working capital to continue
to fund its operations during its strategic review process. Should
one or more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking statements prove
incorrect, actual results, performance, or achievements may vary
materially from those expressed or implied by the forward-looking
statements contained in this news release. These factors should be
considered carefully, and prospective investors should not place
undue reliance on the forward-looking statements.
Although the forward-looking statements contained in the news
release are based upon what management currently believes to be
reasonable assumptions and the Company has attempted to identify
important factors that could cause actual actions, events,
conditions, results, performance or achievements to differ
materially from those described in forward-looking statements, the
Company cannot assure prospective investors that actual results,
performance or achievements will be consistent with these
forward-looking statements. Except as required by law, the Company
expressly disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise. Accordingly, investors
should not place undue reliance on forward-looking statements. All
the forward-looking statements are expressly qualified by the
foregoing cautionary statements.
The TSX Exchange has neither approved nor disapproved the
contents of this press release. Neither the Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the Exchange) accepts responsibility for the adequacy
or accuracy of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240220288582/en/
Axis Auto Finance Inc. Todd Hudson CEO (416) 633-5626
ir@axisautofinance.com
Axis Auto Finance (TSX:AXIS)
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