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28 July 20214 minute read

DLA Piper advises Opportunity Financial (OppFi) in business combination with FG New America Acquisition Corp.

DLA Piper represented Opportunity Financial, LLC in its business combination with special purpose acquisition company FG New America Acquisition Corp.

The combined company now operates as OppFi Inc. and trades on the New York Stock Exchange under the symbol “OPFI.”  OppFi is a leading financial technology platform that powers banks to help everyday consumers gain access to credit.

“It was a pleasure to combine our extensive M&A and SPAC capabilities, along with our fintech sector experience, to help facilitate this transformative transaction for our long-time client OppFi,” said Joshua Samek, co-chair of DLA Piper’s Miami Corporate practice. “This transaction is designed to allow OppFi to continue to expand its data-driven platform and access to credit for the benefit of consumers who have been excluded from the traditional banking system.”


In addition to Samek (Miami), the DLA Piper deal team representing OppFi also included partners Penny Minna (Baltimore), Julia Kovacs (Washington, DC) and Tom Geraghty (Chicago); of counsel James Rusert (Atlanta); and associates Alvin Johnson (Atlanta), Brian Wohlberg (Chicago), John Scarborough (Miami) and Adam Dubin (Washington, DC).


With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 11 consecutive years, according to Mergermarket. The firm advises on all elements of complex SPAC and other public M&A transactions, including M&A, tax and securities. DLA Piper has advised on more than 30 SPAC transactions, with an aggregate value of over US$20 billion, in the past three years.


DLA Piper advises on all aspects of the fintech sector, representing a wide range of clients, including banks, private equity and venture capital funds, asset managers, broker-dealers, insurance companies, trading platforms and exchanges, and distributed-ledger technology platforms. The firm’s multidisciplinary team around the world offers integrated legal solutions that help clients navigate the increasingly complex environment at the intersection of transactions, technology and regulation.