Sidley Represents OppFi In Its Acquisition of BNCC and BNC National Bank

Sidley is representing digital finance company OppFi Inc. (NYSE: OPFI) in its US$130 million agreement to acquire BNCCORP, Inc. (OTCQX: BNCC) and its subsidiary, BNC National Bank. The transaction brings together OppFi’s digital-first platform and BNC’s national bank charter, positioning the combined organization to expand its offerings and support future growth. In addition, OppFi has simplified its corporate structure by converting from an Up-C structure to a traditional C corporation model, a change intended to improve tax efficiency and streamline the company’s accounting and reporting processes.

The Sidley team is being led by Josh Samek (M&A and Private Equity) and Michael Lewis (Banking, Payments and Fintech), and included George Hunter, Alexandra Rios Belhomme, Molly Homann, and Lynzai Cutler (M&A and Private Equity); Katie LaVoy (Corporate Governance); Stanley Boris, David Monteiro, Sean Smith, Matthew Katz, and Nathan Truong (Banking, Payments and Fintech); Tara Lancaster and Patrick Gray (Tax); Teresa Reuter and Amelia Moore (Employment); Eric Winwood and Alexandra Peterson (Employee Benefits and Executive Compensation); Lauren Grau and Garrett Sciortino (Technology and Life Sciences Transactions); T.J. Gordon, Kaylee Bean, and Ziyi Wang (Global Finance); Colleen Brown and Garrett Lance (Privacy and Cybersecurity); and Jason Comer and Connor Evans (Real Estate).