Jefferson Capital announces secondary offering and share repurchase

Jefferson Capital Inc. (NASDAQ: JCAP) announced that existing stockholders plan to sell 10 million shares in an underwritten secondary offering. The underwriters have a 30-day option to purchase up to 1.5 million additional shares from the selling stockholders.

The company will concurrently repurchase 3 million shares from the underwriters at the same price paid to selling stockholders. These repurchased shares will be retired and removed from circulation. The share repurchase depends on customary closing conditions and completion of the secondary offering.

Selling stockholders will receive all net proceeds from the offering. Jefferson Capital will not receive any proceeds from the share sales.

Jefferies and Keefe, Bruyette & Woods serve as joint-lead book-running managers. Additional book-running managers include Citizens Capital Markets, Raymond James, Truist Securities, Capital One Securities, DNB Carnegie, FHN Financial Securities Corp., ING Financial Markets LLC, KeyBanc Capital Markets, Regions Securities LLC, Synovus Securities Inc., and Texas Capital Securities.

A registration statement on Form S-1 has been filed with the Securities and Exchange Commission but has not yet become effective. The securities cannot be sold until the registration statement becomes effective.

Jefferson Capital purchases and manages charged-off, insolvency and active consumer accounts. Founded in 2002, the Minneapolis-based company operates in the United States, Canada, the United Kingdom and Latin America, serving clients including Fortune 500 creditors, banks, fintech platforms, telecommunications providers, credit card issuers and auto finance companies.

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