Company: FCFS
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000840489-25-000098
Chunk: 166

Company: FirstCash Holdings, Inc.
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 2
Chunk 166
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 next 12 months and also in the longer-term beyond the next 12 months.

Expand Pawn Operations

The Company intends to continue expansion of its pawn operations through growth of pawn receivables and inventories in existing stores along with new store openings and acquisitions. 

During the six months ended June 30, 2025, the Company acquired four pawn stores in the U.S. for a cumulative purchase price of $33.0 million, net of cash acquired and subject to future post-closing adjustments. The Company evaluates potential acquisitions based upon growth potential, purchase price, available liquidity, strategic fit and quality of management personnel, among other factors. During the six months ended June 30, 2025, the Company also opened 19 new stores in Latin America and two new stores in the U.S.  

In connection with the pending H&T Acquisition, the Company expects to acquire the entire issued and to be issued share capital of H&T during the third quarter by paying H&T shareholders 650 pence per share in cash. The total equity value for the H&T Acquisition, including cash consideration for the shares, is approximately £291.4 million ($396.3 million USD using GBP/USD exchange rate of 1.36) and H&T had outstanding indebtedness of approximately £72.6 million as of June 30, 2025 ($98.7 million USD using GBP/USD exchange rate of 1.36), which the Company expects will remain outstanding following the closing of the H&T Acquisition. The Company has also incurred, and expects to incur additional costs, expenses and fees for professional services, financing and other transaction costs in connection with the H&T Acquisition. The substantial majority of these costs will be non-recurring expenses relating to the H&T Acquisition, including costs relating to integration planning. The Company plans to finance the H&T Acquisition, which may include repayment of H&T’s outstanding indebtedness if such debt does not remain outstanding following the closing of the H&T Acquisition, and other costs with available funds under the Credit Facility and believes it has adequate capacity to borrow the necessary funds under the most restrictive covenants under its credit agreements.

Other than the proposed H&T Acquisition, the Company currently has no other contractual commitments for materially significant future acquisitions, business combinations or capital commitments. For the full year of 2025, the Company expects to continue adding store locations through new store openings and acquisitions. Future store openings and acquisitions are subject to the Company’s ability to identify acquisition opportunities and new location sites in markets with attractive