Paul Paradis, the Executive Director and President of Sezzle Inc. (NASDAQ:SEZL), has reported a sale of company shares. According to a recent filing, Paradis sold 1,560 shares of Sezzle’s common stock on November 15, 2024, at a price of $385 per share. The total value of the transaction amounted to $600,600.
Following this sale, Paradis retains indirect ownership of 72,872 shares through his spouse. It’s important to note that Paradis has disclaimed beneficial ownership of these shares, which were part of a previous gift to his spouse.
In other recent news, Sezzle Inc. has made significant changes to its financial and governance strategies. The company has revised its credit and guaranty agreements, altering financial covenants related to tangible net worth and restricted payments. The amendment allows Sezzle to distribute dividends or repurchase its common stock, provided it maintains a positive net income over the trailing twelve months.
Simultaneously, Sezzle has amended its agreements with WebBank and adjusted its credit arrangements. These changes enhance Sezzle’s role in issuing its subscription products, Sezzle Anywhere and Sezzle Premium, while WebBank remains the exclusive originator and financier of Sezzle’s “Pay-in-2” and “Pay-in-4” installment products.
Additionally, Sezzle Funding SPE II, a Sezzle subsidiary, and its lenders have revised the terms of their Revolving Credit and Security Agreement to facilitate the purchase of loans from WebBank under the new partnership terms.
In governance developments, Sezzle has seen board changes with the departure of Michael Cutter and Paul Alan Lahiff and the appointment of Stephen F. East and Kyle M. Brehm. Analyst firm B. Riley has initiated coverage on Sezzle with a Buy rating, highlighting the company’s potential for high growth at a low marginal cost, leading to significant margin expansion. Sezzle has maintained profitability since 2023, driven by its 0% APR point-of-sale financing.
InvestingPro Insights
As Paul Paradis, Executive Director and President of Sezzle Inc. (NASDAQ:SEZL), sells a portion of his shares, investors may find additional context in recent financial data and expert insights. According to InvestingPro, Sezzle’s stock has demonstrated remarkable performance, with a staggering 3,469.11% total return over the past year. This exceptional growth is further emphasized by the company’s strong revenue growth of 49.13% in the last twelve months as of Q3 2024.
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