SUBSEQUENT EVENTS

Acquisition

In December 2019, the Company entered into a Stock Purchase Agreement to acquire Ad Astra (the "Acquisition") for a base purchase price of $15.8 million. Ad Astra, a related party, discussed further in Note 18 - "Related Party Transactions", provides account servicing and recovery and served as the Company's exclusive third-party servicer prior to the acquisition. The transaction was subject to customary adjustments for net-working capital, cash and debt, and closed on January 3, 2020 for total cash of $17.8 million. Ad Astra will be consolidated and included in the Condensed Consolidated Financial Statements beginning in the first quarter of 2020. The Acquisition will be accounted for as a business combination, subject to the provisions of ASC 805-10-50, Business Combinations. Due to the timing of the Acquisition, the Company is currently in process of completing the initial purchase accounting and has not made all of the remaining disclosures required by ASC 805 Business Combinations, such as the fair value of assets acquired and supplemental pro forma information, which will be disclosed in subsequent filings upon the completion of the initial purchase accounting.

Share Repurchase Programs

The Company completed the $50.0 million share repurchase program announced in April 2019 by repurchasing 455,255 remaining shares between January 1, 2020 through February 5, 2020, as disclosed below (in thousands, except per share and number of share amounts):



	January 1 - February 5
	2020
Total number of shares repurchased	455,255
Average price paid per share	$	10.45
Total value of shares repurchased	$	4,759

On February 5, 2020, the Company's Board of Directors announced the authorization of a new share repurchase program for up to $25.0 million of its common stock. The share repurchase program will continue until completed or terminated. Under the program, shares may be repurchased in the open market or in privately negotiated transactions at times and amounts considered appropriate by CURO. The Company repurchased 51,302 shares between February 24, 2020 through March 6, 2020 (in thousands, except per share amounts and number of share amounts):



	February 24 - March 6
	2020
Total number of shares repurchased	51,302
Average price paid per share	$	9.75
Total value of shares repurchased	$	500

Dividend

On February 5, 2020, the Company's Board of Directors announced the initiation of a dividend program and declared its first quarterly cash dividend of $0.055 per share ($0.22 per share annualized). The dividend was paid on March 2, 2020 to stockholders of record as of the close of business on February 18, 2020.

New Credit Facility

On February 4, 2020, the Company executed a non-binding letter of intent for an additional $200.0 million Non-Recourse Revolving Credit Facility to fund growing U.S. portfolios. The facility would have a 90% advance rate with a 5.75% LIBOR spread.