On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

NetworkNewsBreaks – IEG Holdings Corp. (IEGH) Pushes for Negotiations Related to LendingClub Offer

Company: IEG Holdings Corp. (IEGH)
Category: News

Consumer loan provider IEG Holdings Corp. (OTCQB: IEGH) this morning issued a news release urging LendingClub Corporation (NYSE: LC) to enter negotiations related to the former’s tender offer to acquire approximately 4.99 percent of LendingClub’s outstanding shares. The offer, which is scheduled to expire on Thursday, February 22, 2018, comes as IEGH has identified what it believes to be “major risks and problems” with LendingClub’s business model and management strategy. IEGH believes that by altering this model to a balance sheet lender model, LendingClub would be able to generate significantly higher margins, provide substantially higher long duration cash flow, build increased goodwill with customers and enable increased customer refinancing. IEGH also highlights blockchain technology as a means of increasing LendingClub’s cash flow security and transparency. IEGH’s tender offer calls for the exchange of 13 shares of IEGH common stock for each share of LendingClub common stock, up to an aggregate of 20,701,999 LendingClub shares.

To view the full press release, visit http://nnw.fm/yY4pw

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. In addition, IEG Holdings announced on December 22, 2017 that it has formed Investment Evolution Crypto, LLC, a wholly owned subsidiary of IEG Holdings (“Crypto”). Crypto will explore the legalities and economic risks and benefits of entering into a joint venture with Investment Evolution Corporation, a wholly owned subsidiary of IEG Holdings (“IEC”), to accept repayment of customer loans in the form of crypto/blockchain currencies such as Bitcoin, provide the crypto equivalent of $5,000 and $10,000 loans to customers, and also potentially create and issue an IEC cryptocurrency. Crypto has not begun operations and is in the development planning stages to explore these business opportunities in this time of changing technology. For more information about IEG Holdings, visit www.investmentevolution.com

More from NetworkNewsBreaks

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

For more information please visit https://www.networknewswire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

NetworkNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 212.418.1217