#USA #New York #Findell Capital #Oportun Financial #Raul Vazquez

Findell Capital's Ongoing Commitment

In a bold statement on June 17, 2025, Findell Capital Partners, LP, one of the largest shareholders of Oportun Financial Corporation (NASDAQ OPRT), reiterated its dedication to achieving a good faith settlement. The statement highlights concerns regarding the board's actions and their implications on shareholder value.

The Challenge at Hand

Findell Capital has engaged in various private dialogues with Oportun's board concerning strategies to enhance value and a potential settlement. However, these efforts have often been met with significant resistance. According to Findell, Oportun is squandering millions of dollars that belong to shareholders by resisting the inclusion of lending experts on its board. This paradox is particularly glaring since Oportun operates in the lending sector.

Recent comments from Oportun's CEO, Raul Vazquez, point to OneMain Financial as a model of successful operations. Yet, the board's decision to dismiss Scott Parker, the former CFO of OneMain, from Oportun's board has raised eyebrows. Findell believes this move reflects the board’s fear of losing control rather than a genuine interest in improving corporate governance.

Calls for Action

In its statement, Findell underscored its desire for a compromise that could resolve the ongoing conflicts with the board in a manner beneficial to all shareholders. It proposes a framework that promises improved governance and enhanced value under the leadership of directors possessing substantial lending experience. This approach aims to align the board's composition more closely with industry norms and best practices.

Furthermore, Findell encourages shareholders to actively support the election of Warren Wilcox, advocating for a change in the current board dynamics via the WHITE proxy card. This move is seen as crucial for steering Oportun toward a future where shareholder interests are prioritized, allowing the company to function more effectively in the competitive lending landscape.

Moving Forward

As Findell Capital navigates these challenges, its commitment to reaching a resolution remains steadfast. The firm’s focus on governance and value creation places shareholder interests at the forefront, reflecting a growing trend among investors emphasizing accountability and performance from corporate boards. The call to action for Oportun's shareholders indicates the firm’s readiness to mobilize its stakeholders in pursuit of meaningful change.

In conclusion, Findell Capital’s ongoing efforts to reshape the leadership dynamics at Oportun Financial underscore the complexities of shareholder activism in today’s corporate environment. With a keen eye on governance practices and an understanding of the lending landscape, Findell is poised to play a pivotal role in reshaping the future of Oportun Financial.