IOU Financial will repurchase $400,000 convertibles at discount

By Wendy Van Sickle

Columbus, Ohio, Sept. 3 – IOU Financial Inc. is repurchasing $400,000 of its convertible debentures at a discount, according to a news release.

IOU will repurchase the debentures under repurchase agreements to be entered into with individual debenture holders, and the company intends to repurchase up to an additional $2 million of the convertibles by no later than Oct. 31.

In total, the announced and intended repurchases of convertible debentures in 2021 amount to $4.3 million.

The Montreal company is an online lender for small businesses in the United States.

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