Under the terms of the agreement, ANV will launch an all-cash tender offer for all outstanding shares at $3.15 apiece. Any stock remaining after the initial offer will be acquired through a subsequent merger at the same valuation. The board of Open Lending has already granted unanimous approval for the takeover.

For Open Lending, the transition provides a path to deeper capital reserves and expanded distribution networks. CEO Jessica Buss noted that ANV’s expertise in insurance-backed credit aligns with the company’s long-term growth strategy. ANV, which manages specialty insurance operations across the U.S., U.K., and Europe, views the acquisition as a way to solidify its presence in the American credit market. CEO Adam Karkowsky stated that the move allows the firm to integrate Open Lending’s capabilities across its broader platform, anticipating significant value creation once the integration is complete.