Atlanticus Acquires Mercury Financial, Adding $3.2 Billion in Credit Card Receivables and Expanding into Near-Prime Consumer Segment

Atlanticus Holdings Corporation has acquired Mercury Financial LLC, adding $3.2 billion in credit card receivables to its general-purpose credit card segment and expanding its product offering into the near-prime consumer segment. The acquisition brings together two platforms focused on serving financially underserved consumers. Atlanticus expects to create value through portfolio optimization strategies, cost synergies, and increased originations on behalf of bank partners.

Atlanticus Holdings Corporation (NASDAQ: ATLC) has executed a strategic acquisition of Mercury Financial LLC, a leading data-driven credit card platform serving near-prime consumers. The $162 million cash acquisition adds $3.2 billion in credit card receivables and 1.3 million credit card accounts to Atlanticus' portfolio, expanding its total managed receivables to over $6 billion and increasing its serviced accounts to more than 5 million Atlanticus Announces Acquisition of Mercury Financial LLC^[1].

The acquisition represents a calculated move into the larger near-prime consumer lending segment, complementing Atlanticus' existing focus on financially underserved consumers. Mercury's data-driven, technology-centric platform will enhance Atlanticus' capabilities across its general purpose credit card, retail credit, patient financing, and dealer solutions products Atlanticus Announces Acquisition of Mercury Financial LLC^[1].

Atlanticus expects to create value through several initiatives, including portfolio optimization strategies, cost synergies, and increased originations through bank partnerships. The transaction structure includes the $162 million cash purchase price plus potential performance-based earn-out payments if portfolio credit performance exceeds base case assumptions Atlanticus Announces Acquisition of Mercury Financial LLC^[1].

Atlanticus' expertise in portfolio acquisitions, having previously purchased over $6 billion in credit card receivables portfolios, positions it well to integrate Mercury's near-prime capabilities with its existing infrastructure. This should create scale efficiencies while expanding its addressable market into higher credit quality segments Atlanticus Announces Acquisition of Mercury Financial LLC^[1].

The acquisition was announced on September 11, 2025, and Mercury became a wholly-owned subsidiary of Atlanticus. The deal was advised by Guggenheim Securities, LLC, and Troutman Pepper Locke and Willkie Farr & Gallagher served as legal counsel to Atlanticus. Deutsche Bank Securities and Mayer Brown LLP served as financial and legal advisors to the seller, respectively Atlanticus Announces Acquisition of Mercury Financial LLC^[1].

Atlanticus, which empowers better financial outcomes for everyday Americans through proprietary technology and analytics, expects the integration of Mercury to drive significant value creation and growth opportunities.