OnDeck Files Universal Shelf Registration on Form S-3

March 17, 2017

NEW YORK, March 17, 2017 /PRNewswire/ -- OnDeck® (NYSE:ONDK), the leader in online lending for small business, announced today that it had filed a universal shelf registration statement on Form S-3 with the United States Securities and Exchange Commission, or the SEC.  While the company has no current plans to issue securities under the new registration statement, the company believes it will provide more timely and efficient access to the capital markets if the company decides to issue securities in the future.  The company also believes the registration statement will provide increased financial flexibility and streamline the offering process for general corporate purposes and possible strategic and other opportunities that may require additional capital. 

Once the registration statement has been declared effective by the SEC, subject to market conditions and other factors, OnDeck may from time to time issue various types of securities, including common stock, preferred stock, depositary shares, warrants, debt securities, subscription rights and units, or any combination of such securities, up to an aggregate amount of $225 million, through one or more methods of distribution.  The terms of any offering under the registration statement will be established at the time of such offering and will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering.  

The registration statement has been filed with the SEC but has not yet become effective.  These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 

About OnDeck

OnDeck (NYSE: ONDK) is the leader in online small business lending. Since 2007, the company has powered Main Street's growth through advanced lending technology and a constant dedication to customer service. OnDeck's proprietary credit scoring system - the OnDeck Score® - leverages advanced analytics, enabling OnDeck to make real-time lending decisions and deliver capital to small businesses in as little as 24 hours. OnDeck offers business owners a complete financing solution, including the online lending industry's widest range of term loans and lines of credit. To date, the company has deployed more than $6 billion to more than 60,000 customers in 700 different industries across the United States, Canada and Australia. OnDeck has an A+ rating with the Better Business Bureau and operates the educational small business financing website BusinessLoans.com. For more information, please visit www.ondeck.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other legal authority. Forward-looking statements can be identified by words such as "will," "enables," "expects," "intends, "may," "allows," "continues," "believes," "anticipates," "estimates" or similar expressions. These include statements regarding the expected effectiveness of the universal shelf registration statement and possible future offerings of securities under that registration statement. 

Forward-looking statements are neither historical facts nor assurances of future performance. They are based only on our current beliefs, expectations and assumptions regarding the future of our business, anticipated events and trends, the economy and other future conditions. As such, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and in many cases outside our control. Therefore, you should not rely on any of these forward-looking statements. These statements involve risks and uncertainties that could cause actual events to differ materially from our expectations. Factors that could cause actual events to differ from our forward-looking statements, or that could contribute to such differences, include risks relating to market conditions, including interest rate changes, and pricing of securities generally and for our securities in particular; the impact of our historical and anticipated financial performance on possible future offerings of securities subject to our registration statement; whether or not we will be able to raise capital through the sale of securities or consummate an offering under the registration statement, the terms of an offering and the anticipated use of the proceeds of such offering, any of which could change as a result of market conditions or for other reasons; the availability and cost to us of alternative financing opportunities including debt facilities, securitizations and OnDeck Marketplace® sales to fund our existing operations and planned growth; the amount of cash flow we generate from our operations; the consequences of mismatches in the timing or amounts of resources available to fund additional loans or draws on lines of credit; the effect on our business of originating loans without third-party funding sources; the impact of increased utilization of cash to fund originations; the effect on our business of utilizing cash for voluntary loan purchases from third parties; our liquidity and working capital requirements, including anticipated trends, growth rates and challenges in our business and in the markets in which we operate; and other risks, including those described in our Annual Report on Form 10-K for the year ended December 31, 2016 and in other documents that we file with the SEC from time to time which are or will be available on the SEC's website at www.sec.gov. Except as required by law, we undertake no duty to update the information in this press release.

OnDeck, the OnDeck logo, OnDeck Score and OnDeck Marketplace are trademarks of On Deck Capital, Inc.


To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ondeck-files-universal-shelf-registration-on-form-s-3-300425462.html

SOURCE On Deck Capital, Inc.

Investor Contact: Kathryn Harmon Miller, 646.558.7860, kmiller@ondeck.com, or Media Contact: Jim Larkin, 203.526.7457, jlarkin@ondeck.com

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