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NextPoint Financial Inc. Acquires Community Tax LLC for $ 90 Million in Cash and Stock, Adding Tax Debt Resolution and Related Services to Its Growing Line of Financial Services Offerings


Founded in 2010, Community Tax has quickly established itself as a leader in the tax debt resolution industry by leveraging a two-phase approach to resolving outstanding tax issues. Community Tax is a bilingual organization, with English and Spanish speaking team members in all disciplines of the organization. Community Tax has offices in Chicago, Jacksonville, and Puerto Rico. Jacob Dayan, Esq., Co-founder and CEO of Community Tax, has joined NextPoint as Chief Revenue Officer and will be responsible for monetization strategies across the company. The purchase was financed by borrowings of US $ 70 million under a new credit facility entered into by a newly formed subsidiary of NextPoint which owns all of the interests in Community Tax. NextPoint also issued the equivalent of US $ 20 million of common shares of NextPoint, at a price of US $ 4.6881 per share, to the former owners of Community Tax.

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Brent Turner, CEO of NextPoint commented, “Community Tax is a perfect complement to the NextPoint platform and meets the needs of our clients. In early 2021, we started offering their tax resolution services to Liberty Tax clients through our franchisees. The program was well received and ultimately led to today’s purchase, which positions us as one of the largest tax debt settlement companies in the United States. the larger NextPoint financial services market.

About NextPoint Financial Inc. (www.nextpointfinancial.com) NextPoint Financial Inc. is an all-inclusive marketplace for financial services enabling hard-working and underserved consumers and small businesses. NextPoint was formed through the July 2021 combination of Liberty Tax, a leading provider of tax preparation services, with LoanMe, an online lender and loan distributor.

Forward-Looking Statements This press release may contain “forward-looking statements” (as defined by applicable securities laws). These forward-looking statements relate to future events or future performance, in particular with regard to the expected impact of the community tax on the profits of the company, the integration of the community tax, the objectives and priorities of the company for the financial year 2021 and beyond, and additional strategies or actions relating to the Company, business operations, financial performance and the condition of the Company.

These forward-looking statements reflect the current beliefs of management and are based on information currently available to management. In some cases, forward-looking statements may be identified by words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “Predict”, “potential”, “continue”, “target”, “intend”, “could” or the negative of these terms or other comparable terminology. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and many factors could cause actual events or results to differ materially from the results discussed in forward-looking statements. In evaluating forward-looking statements, readers should specifically consider various factors that could cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to, general economic and market conditions, the Company’s ability to integrate community tax into its operations, the ongoing COVID-19 pandemic, and the risks and uncertainties discussed in the section titled “Risk factors” in the Company’s final prospectus dated June 3, 2021.

The forward-looking statements contained in this press release are presented for the purpose of helping investors understand the business and strategic priorities and objectives of the Company at the periods indicated and may not be appropriate for other purposes. The forward-looking statements contained in this press release are not guarantees of future performance and, although the forward-looking statements are based on certain assumptions which the Company considers to be reasonable, actual events and results could differ materially from those expressed or under – understood by forward-looking statements. made by the Company. Prospective investors are urged to carefully consider these and other factors when making decisions about the Company and not to place undue reliance on forward-looking statements. Circumstances affecting the Company can change quickly. Except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE NextPoint Financial Inc.

See original content: http://www.newswire.ca/en/releases/archive/December2021/31/c6183.html

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  • NextPoint Financial Inc. Acquires Community Tax LLC for $ 90 Million in Cash and Stock, Adding Tax Debt Resolution and Related Services to Its Growing Line of Financial Services Offerings
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