On September 9, Chime Financial, Inc. rose 11.39% in pre-market trading, trading at $36.02 per share, with turnover of approximately $90,500.

On the news front, Chime announced it will acquire nationally chartered Stride Bank for $590 million in an all-cash transaction. Upon closing, Stride will be renamed Chime Bank, N.A. and operate as a wholly owned subsidiary. The company stated the acquisition will be funded entirely from existing cash reserves on its balance sheet, requiring no additional capital injection. Stride Bank has been a banking partner of Chime for over seven years, and the deal will bring critical banking infrastructure in-house as Chime seeks to expand its lending operations.

The transaction is expected to be immediately accretive to earnings per share, with net synergies exceeding $100 million, primarily driven by sponsor bank fee savings, expanded lending products, and a lower cost of funds. Concurrently, Chime raised its Q3 revenue guidance to $705 million and lifted its full-year revenue outlook to $2.76 billion to $2.77 billion. The transaction is expected to close in the first half of next year.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)