FirstCash Amends Agreement With American First Finance - Quick Facts

(RTTNews) - FirstCash, Inc. (FCFS) has amended its agreement to acquire American First Finance Inc. The amendment provides for additional contingent consideration of up to $75 million, to be based on the company's stock performance through February 28, 2023. The amendment also provides for a fixed $25 million working capital payment payable December 31, 2022.

The transaction is now valued at approximately $916 million, compared to the estimated valuation at the time of announcement of $1.17 billion. The total consideration payable to the seller at closing remains unchanged.

Rick Wessel, FirstCash CEO, said: "In light of the recent volatility in our stock price, we believe that amending the transaction and proceeding with it is in the best interests of our shareholders, customers and employees."