IEG Holdings (OTCQB: IEGH), a provider of unsecured consumer loans, said today that it has commenced a tender offer to exchange 13 shares of the company’s common stock for each share of common stock of LendingClub Corp. (NYSE: LC) up to a total of 20,701,999 shares of LendingClub common stock. The aggregate amount represents approximately 4.99% of LendingClub’s outstanding shares as of October 31, 2017, validly tendered and not properly withdrawn in the offer. Unless it is extended further or terminated early, this offer is set to expire on February 22 at 5 p.m. ET. Complete terms and conditions of the offer are available at the Securities and Exchange Commission’s website at www.sec.gov.
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LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors. For more information, visit the company’s website at www.LendingClub.com.
About IEG Holdings Corporation
IEG Holdings Corporation provides online $5,000 and $10,000 unsecured consumer loans under the brand name, “Mr. Amazing Loans,” via its website, www.MrAmazingLoans.com. For more information about IEG Holdings, visit www.InvestmentEvolution.com.
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