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ARLINGTON, Texas, (GLOBE NEWSWIRE) — FirstCash, Inc. (the “Company” or “FirstCash”) (NYSE:FCFS) today announced the successful completion of the merger of equals between First Cash Financial Services, Inc. (“First Cash”) and Cash America International, Inc. (“Cash America”). The closing of the all-stock transaction was effective on erica ceased trading at the close of the NASDAQ Global Select Market and the New York Stock Exchange (the “NYSE”), respectively, on . Beginning today, the shares of FirstCash will trade on the NYSE under the stock symbol “FCFS.”

Jefferies LLC served as exclusive financial advisor to Cash America, and Hunton & Williams LLP served as legal counsel to Cash America

Rick Wessel, CEO and Vice Chairman of FirstCash, commented, “The transaction creates the largest combined retail pawn store operator in Latin America and the United States, with over 2,000 locations across four countries. The merged company provides significant scale and a unified platform for leadership in the pawn industry while keeping the strong local presence and established brands from both companies.

The complementary nature of the merger presents substantial opportunities for cost synergies and operating efficiencies. These savings, coupled with the strong existing cash flows from the core pawn operations of both companies, are expected to result in an increased ability to pursue long-term international expansion plans and drive additional shareholder returns through dividends and stock repurchases.”

Alston & Bird, LLP served as legal counsel to First Cash

Pawn operations will continue to be the primary focus of the combined company, with 94% of the combined company’s expected revenue mix coming from pawn-related merchandise sales and pawn service fees.

FirstCash will be led by a proven leadership team that reflects the strengths and capabilities of both companies. Continue Reading FirstCash Announces Successful Completion of Merger of Equals Combining First Cash Financial Services, Inc. and Cash America International, Inc