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AI brief of an SEC Form 8-K · Enova International (ENVA)

Enova to acquire Grasshopper Bancorp in deal valued at about $369 million

Neutral Impact 5 of 5 m&a Written later

Enova International signed a merger agreement on December 10, 2025, to acquire Grasshopper Bancorp, the parent of Grasshopper Bank N.A., in a deal the press release values at about $369 million. The deal is paid in a mix of cash and Enova stock and needs Grasshopper stockholder approval and approvals from the OCC and the Federal Reserve, with closing expected in the second half of 2026.

Key points

  • Grasshopper holders can elect $9.69 in cash or 0.07637 of an Enova share for each Grasshopper share; cash is 50% of total merger consideration, capped at about $350 million in aggregate
  • Enova would pay a $5,000,000 termination fee under certain circumstances; either party can terminate after day 360 unless extended to day 450 for a $5,000,000 payment
  • Closing requires Grasshopper stockholder approval and approvals from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency, and expected in the second half of 2026
  • Steve Cunningham will become Enova CEO effective January 1, 2026, and will also be CEO of the surviving bank

The filing

CompanyEnova International (ENVA)
Form8-K, current report
Filed with the SECDec 11, 2025, 7:04 AM ET
Accession number0001193125-25-315025

Items reported: 1.01 Material Definitive Agreement7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 11, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.