CURO Positioned to Benefit from Katapult’s Merger with FSRV

CURO Group Holdings Corp. Positioned to Benefit from Katapult’s Announced Merger with FinServ Acquisition Corp.

$900+ million Transaction Provides $365 million Total Consideration to CURO

Katapult Holding, Inc. ("Katapult"), a company approximately 40% owned by CURO and a leading provider of e-commerce point-of-sale ("POS") lease purchase options for non-prime US consumers, and FinServ Acquisition Corp. (Nasdaq: FSRV) ("FinServ"), a publicly traded special purpose acquisition company ("SPAC"), have entered into a definitive merger agreement.

The transaction values Katapult’s equity at $908 million, which includes an earnout of up to $75 million in the form of additional common shares in the new public company.

Based on CURO’s ownership in Katapult, the transaction announced today will provide consideration consisting of a combination of cash and stock in the new company to CURO of $365 million, which includes an earnout of up to $30 million in the form of additional common shares in the new public company.

To date, CURO has made a total cash investment in Katapult of $27.5 million.

Upon the closing of the transaction, CURO anticipates receiving cash of up to $125 million and maintaining an ownership stake of at least 21% of the fully-diluted shares of the new public company.

The transaction is expected to close during the first half of 2021 and remains subject to approval by FinServ stockholders and other customary closing conditions.

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