Chime to acquire Stride Bank for $590 million; shares jump
Chime said it will acquire nationally chartered Stride Bank for $590 million, bringing key banking infrastructure in-house as it expands its lending business.
Story updates
09:34:39 PM UTC
SquawkNews
Chime entered into an Agreement and Plan of Merger to acquire Central Service, the parent of Stride Bank, for $590 million in cash, subject to customary adjustments. All Central Service preferred shares will be redeemed immediately prior to closing. The transaction, unanimously approved by both boa…
Chime has entered into an Agreement and Plan of Merger to acquire Central Service, the parent of Stride Bank, for $590 million in cash, subject to customary adjustments. All Central Service preferred shares will be redeemed immediately before closing. The transaction was unanimously approved by both boards.