FinWise Bancorp (NasdaqGM:FINW) agreed to acquire an additional 10 percent stake in Business Funding Group, LLC for $3.3 million on July 25, 2023. The transaction is subject to regulatory approval and other customary closing conditions. Consideration includes issuance of 372,132 shares of the Company?s common stock in exchange for an additional 10% equity interest in BFG upon closing. Kenneth S. Rose of Kurzman Eisenberg Corbin & Lever, LLP acted as legal advisor for Business Funding Group.

FinWise Bancorp (NasdaqGM:FINW) completed the acquisition of an additional 10 percent stake in Business Funding Group, LLC on February 5, 2024. FinWise issued in the aggregate 339,176 shares of Common Stock of the Company, par value $0.001 per share to the sellers in exchange for the additional membership interest in BFG giving the Company a combined 20% ownership interest in BFG.