OnDeck / Enova Merger Overwhelmingly Approved by Shareholders

The drama surrounding what OnDeck allegedly did or did not disclose to shareholders about the Enova merger presumably came to an end on Wednesday. 38 million voting shares approved the deal while less than half a million voted against it.

However, shareholders sent a message by voting against “the compensation that may be paid or become payable to the Company’s named executive officers that is based on or otherwise relates to the merger.”

OnDeck has said that the merger is expected to be completed in the fourth quarter of 2020.