(Updates with additional details throughout and recent stock movement in the first paragraph.)
Affirm Holdings (AFRM) shares were climbing over 2% in early Friday trade after the company said it has signed a long-term capital agreement with Sixth Street that will see the asset manager investing up to $4 billion in Affirm by acquiring loans of the digital payments company.
The three-year, forward flow agreement represents the largest capital commitment secured by Affirm to date, the company said, adding that the deal will provide more flexibility and additional off-balance funding and enable the company to extend more than $20 million in loans while it is in effect.
Price: 70.50, Change: +1.73, Percent Change: +2.52
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