IEG Holdings (OTCQB: IEGH), a provider of unsecured consumer loans, recently announced a tender offer to exchange 13 shares of the company’s common stock for each share of common stock of LendingClub Corp. (NYSE: LC). An article discussing the offer reads: “IEG Holdings Corporation (OTCQB: IEGH) recently announced (http://ibn.fm/mAbCE) that it has begun a tender offer for 4.99 percent of the common shares of LendingClub Corporation (NYSE: LC). The offer, set to expire on February 22, 2018, is for up to an aggregate of 20,701,999 common shares. The transaction calls for the exchange of 13 shares of IEG Holdings common stock for each share of LendingClub. … IEGH believes that the offer is a solid short-term investment for its shareholders.”
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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
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