Oportun Financial CORP Schedule 13D activist filings

Oportun Financial Corp has entered into a cooperation agreement with activist investor Findell Capital, leading to the appointment of Warren Wilcox to its Board of Directors and the withdrawal of Findell's prior nominations.

Findell Capital Management and its affiliates have filed an amended Schedule 13D, revealing a net reduction in their beneficial ownership of Oportun Financial Corp. common stock to 7.4% of outstanding shares.

NB Alternatives Advisers LLC has significantly increased its beneficial ownership in Oportun Financial Corporation to 9.9% by exercising warrants to acquire nearly 4 million additional shares.

An activist investor group, led by Findell Capital Management LLC, has intensified its campaign against Oportun Financial Corp, withdrawing one nominee and launching a proxy solicitation to elect industry veteran Warren Wilcox to the Board, citing persistent operational underperformance and governance failures.

Findell Capital Partners, holding a 9.2% stake in Oportun Financial Corporation, has formally nominated two director candidates, Sandra Bell and Warren Wilcox, for election to the company's board at the 2025 annual meeting, citing concerns over current board's experience and oversight.

Findell Capital Management, Oportun Financial's largest shareholder, has launched an activist campaign to replace the CEO and Lead Director, alleging mismanagement and a lack of lending expertise on the Board.