M&A - LendingClub Corp

Form Type: 8-K

Filing Date: 2025-04-17

Corporate Action: Acquisition

Type: New

Accession Number: 000140997025000012

Filing Summary: On April 11, 2025, LendingClub Corporation, through its wholly-owned subsidiary LC 88K Holdings, LLC, entered into a Purchase and Sale Agreement with Teachers Insurance and Annuity Association of America to acquire the property located at 88 Kearny Street, San Francisco, for a purchase price of $74.5 million. The Company has deposited $5 million in escrow, with the acquisition expected to close within thirty days. The Registrant plans to use cash-on-hand for the Purchase Price and intends to occupy the Property in the second quarter of 2026, following the expiration of its current office lease. The acquisition is anticipated to have an immaterial impact on the company’s net operating income and the Bank’s regulatory capital position. A press release announcing the acquisition was issued on April 17, 2025 and is included as Exhibit 99.1.