Davis Polk advised the underwriter in connection with the SEC-registered offering of 10,000,000 shares of common stock of OneMain Holdings, Inc. sold by Springleaf Financial Holdings, LLC on behalf of an affiliate of Fortress Investment Group LLC. The aggregate gross proceeds of the offering were approximately $260 million. The underwriter has a 30-day option to purchase up to an additional 1,500,000 shares of OneMain Holdings, Inc.’s common stock from Springleaf Financial Holdings, LLC. The common stock is listed on the New York Stock Exchange under the symbol “OMF.”
OneMain Holdings, Inc. is a leading consumer finance company providing loan products to customers through its nationwide branch network and online presence. OneMain Holdings, Inc. operates one of the largest consumer finance branch networks in the United States, serving its customers through over 1,600 branches in 44 states.
The Davis Polk corporate team included partner Richard D. Truesdell Jr. and associates Roshni Banker Cariello and Carrie Guo. The financial institutions team included counsel Daniel E. Newman and associate Hallie T. Damon. The tax team included partner Michael Mollerus. All members of the Davis Polk team are based in the New York office.