PROG Holdings will acquire Purchasing Power for $420 million in cash, with the transaction funded through a combination of cash on hand and debt financing. At closing, Purchasing Power will retain approximately $330 million of non-recourse funding debt under its securitization and warehouse facilities. The deal is expected to close in early 2026, subject to customary closing conditions and regulatory approvals. Company leaders highlighted that the combination will create a more diversified provider of financial health and payment services, aiming to accelerate growth and better serve customers in the near- and sub-prime market.