Posted December 23, 2019

ATLANTA--(BUSINESS WIRE)--GreenSky, Inc. (“GreenSky” or the “Company”) (NASDAQ: GSKY), a leading financial technology company Powering Commerce at the Point of Sale®, today announced reaching an agreement in principle for a three-year, $6 billion forward flow arrangement with a leading institutional asset manager. Additionally, the Company has renewed its agreement with its largest Bank Partner for an additional year, extended a second Bank Partner agreement for an additional three years, and reached an agreement to increase a third Bank Partner commitment by $100 million.

“We continue to receive strong interest in our GreenSky super-prime home improvement and prime and super-prime elective healthcare loans. With a multi-year record low portfolio 30-day delinquency rate and escalating Borrower credit weighted FICO application scores, resulting indicative pricing bids have been gratifying,” said David Zalik, chairman and CEO of GreenSky. “We are pleased to announce that we have reached an agreement in principle for a three-year, $6 billion forward flow full risk transfer funding commitment at pricing that closely approximates our current Bank Partner economics. Our partnership with this leading institutional asset manager both diversifies and reinforces GreenSky’s strong Bank Partner consortium. Consistent with GreenSky’s mission to help businesses grow revenue at the point of sale while delighting their consumer customers, these funding relationships yield both flexibility and significant liquidity to fuel future growth.”

On August 6, 2019, the Company announced that its Board of Directors had commenced a review of strategic alternatives designed to maximize stockholder value. The Board’s review is ongoing. The Company does not intend to make further public comment regarding these matters unless and until the Board has approved a specific transaction or alternative or otherwise concludes its review.

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