Open Lending announced that it has entered into a definitive agreement to be acquired by ANV Group Holdings in an all-cash transaction.
Under the agreement, ANV will acquire all outstanding shares of Open Lending common stock for $3.15 per share through a cash tender offer. The purchase price represents a premium of approximately 78% to Open Lending’s 90-day volume-weighted average price as of June 15, 2026.
Founded more than two decades ago, Open Lending provides insurance-backed lending enablement and risk analytics solutions for financial institutions. The company partners with lenders across the United States to help expand access to automotive financing through proprietary risk decisioning technology and an insurance-backed credit structure.
ANV is a global insurance intermediary platform operating across the United States, the United Kingdom, and Europe. The company was formed in 2025 following a strategic transaction between AmTrust Financial Services and Blackstone Credit & Insurance, and operates a portfolio of specialty insurance businesses.
Open Lending said joining ANV will provide access to capital, expanded market and distribution relationships, and strategic support for long-term growth. For ANV, the acquisition adds a specialty underwriting business that aligns with its insurance-backed credit strategy and strengthens its U.S. footprint.
Following the successful completion of the tender offer, ANV will acquire all remaining shares of Open Lending common stock not tendered through a second-step merger at the same price. Upon completion, Open Lending will become a privately held company, and its common stock will no longer be listed on Nasdaq.
The transaction has been unanimously approved by the Open Lending Board of Directors and is expected to close in the third quarter of 2026. The closing is subject to customary conditions, including regulatory approvals and the tender of shares representing a majority of Open Lending’s outstanding common stock.
Financial Technology Partners is serving as financial advisor to Open Lending, and Jones Day is acting as legal counsel. Evercore is serving as financial advisor to ANV, and Paul, Weiss, Rifkind, Wharton & Garrison is serving as legal counsel.
KEY QUOTES:
“ANV brings deep domain expertise in insurance-backed credit and a long-term perspective that aligns closely with our strategy.”
“This transaction delivers compelling and immediate value for our stockholders while providing Open Lending with the capital, stability, and strategic support to accelerate product innovation, deepen relationships with our financial institution partners, and drive sustainable growth over the long term.”
Jessica Buss, Chairman and CEO of Open Lending
“We are thrilled to welcome Open Lending to ANV.”
“This transaction directly advances our insurance-backed credit strategy, and we see significant value creation ahead, both from the business on its own merits and through the opportunities it creates across our broader platform. We have tremendous confidence in the management team and the future we’ll build together. Open Lending will continue to serve its customers and distribution partners as it does today, while benefiting from ANV’s platform and resources.”
Adam Karkowsky, Chairman and Chief Executive Officer of ANV
