IOU Financial to repurchase ~1.1M of convertible debentures

Dec. 02, 2022 1:42 AM ETIOUFFBy: Manshi Mamtora, CFA

IOU Financial (OTCPK:IOUFF) announced that it is repurchasing ~$1.1M of its convertible debentures in the capital of the company at par.
The move to repurchase $1.1M of debentures brings the total year-to-date repurchases to $3.5M and reduces the outstanding principal value of debentures to ~$4.5M.
The debentures mature on December 31, 2023.
Company recently reported Q3 results highlighting an all-time record $74.2M in quarterly loan originations and 6 consecutive quarters of positive earnings.