Sezzle Inc. (NASDAQ:SEZL) (
Sezzle or
Company)
// Sezzle today announced that Paul Purcell resigned from its Board
of Directors on June 6, 2024, and declined to stand for reelection
at the 2024 Annual Meeting of Stockholders. Mr. Purcell served on
Sezzle’s Board for 5 years (since April 2019) and was most recently
a member of the Company’s Audit and Risk Committee, Compensation
Committee, and Nominating and Corporate Governance Committee.
“On behalf of our Board and Sezzle’s management team, we thank
Paul for his service and longstanding commitment to the
Company,” stated Charlie Youakim, Sezzle Chairman and CEO. “We
greatly appreciate the leadership, insight, and expertise that Paul
has provided over the past 5 years, as Sezzle has grown during his
tenure from being a private company to becoming a publicly listed
company on the NASDAQ.”
Mr. Purcell leaves Sezzle’s Board of Directors to focus on his
increasing professional commitments. He currently serves as Chief
Investment Officer of Jupiter Management and is on the board of
directors of AeroPay, GigWage, Prizeout, Winstyr, CarHop, LayUp,
and What’s Next Media. The Board of Directors and the Company’s
management team would like to thank Mr. Purcell for his valuable
contributions to Sezzle and wish him well with his future
endeavors.
Mr. Purcell commented, “I am grateful for the opportunity to
work with Charlie and serve the shareholders of Sezzle. I
especially want to thank my fellow non-executive directors Paul
Lahiff, Mike Cutter, Karen Webster, and Kathleen Pierce-Gilmore.
Sezzle has provided me with incredible professional opportunities
and excellent returns for Continental. It is now time for me to go
find our next founder and our next Sezzle. To all the Sezzlers I
have worked with over the years thanks, I will miss you.”
In light of Mr. Purcell’s resignation and decision to not run
for reelection at the Company’s 2024 Annual Meeting of Stockholders
(the “AGM”), the Company announced today that it is rescheduling
the AGM, which was scheduled for June 13, 2024. The date of the
rescheduled AGM, and any new record date for determining the Sezzle
stockholders entitled to vote at the AGM, will be determined in the
near future, and will be included in supplemental proxy materials
to be filed with the SEC and distributed to stockholders in advance
of the rescheduled AGM.
Contact Information
Lee Brading, CFA Investor Relations +1 651 240 6001
InvestorRelations@sezzle.com |
Erin Foran Media Enquiries +1 651 403 2184
erin.foran@sezzle.com |
About Sezzle Inc.
Sezzle is a fintech company on a mission to financially empower
the next generation. Sezzle’s payment platform increases the
purchasing power for millions of consumers by offering
interest-free installment plans at online stores and select
in-store locations. Sezzle’s transparent, inclusive, and seamless
payment option allows consumers to take control over their
spending, be more responsible, and gain access to financial
freedom.
For more information visit sezzle.com.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act, and Section 21E
of the Securities Exchange Act of 1934, as amended. We have based
these forward-looking statements largely on our current
expectations and projections about future events and financial
trends affecting the financial condition of our business.
Forward-looking statements include our expectations, whether stated
or implied, regarding our financing plans and other future
events.
Forward-looking statements generally can be identified by the
use of words such as "anticipate," "expect," "plan," "could,"
"may," "will," "believe," "estimate," "forecast," "goal,"
"project," and other words of similar meaning. These
forward-looking statements address various matters including
statements regarding the timing or nature of future operating or
financial performance or other events. Each forward-looking
statement contained in this press release is subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statement. Applicable risks
and uncertainties include, among others: impact of the “buy-now,
pay-later” (“BNPL”) industry becoming subject to increased
regulatory scrutiny; impact of operating in a highly competitive
industry; a change in our intention to become listed on the Nasdaq
Capital Market; impact of a reverse stock split on the value of our
common stock; impact of macro-economic conditions on consumer
spending; our ability to increase our merchant network, our base of
consumers and underlying merchant sales (UMS); our ability to
effectively manage growth, sustain our growth rate and maintain our
market share; our ability to meet additional capital requirements;
impact of exposure to consumer bad debts and insolvency of
merchants; impact of the integration, support and prominent
presentation of our platform by our merchants; impact of any data
security breaches, cyberattacks, employee or other internal
misconduct, malware, phishing or ransomware, physical security
breaches, natural disasters, or similar disruptions; impact of key
vendors or merchants failing to comply with legal or regulatory
requirements or to provide various services that are important to
our operations; impact of the loss of key partners and merchant
relationships; impact of exchange rate fluctuations in the
international markets in which we operate; our ability to protect
our intellectual property rights; our ability to retain employees
and recruit additional employees; impact of the costs of complying
with various laws and regulations applicable to the BNPL industry
in the United States and Canada; and our ability to achieve our
public benefit purpose and maintain our B Corporation
certification. The Company cautions investors not to place
considerable reliance on the forward-looking statements contained
in this press release. You are encouraged to read the Company's
filings with the SEC, available at www.sec.gov, for a discussion of
these and other risks and uncertainties. The forward-looking
statements in this press release speak only as of the date of this
document, and the Company undertakes no obligation to update or
revise any of these statements. The Company's business is subject
to substantial risks and uncertainties, including those referenced
above. Investors, potential investors, and others should give
careful consideration to these risks and uncertainties.
Important Additional Information Has Been Filed With the
SEC
Sezzle has filed with the SEC a proxy statement in connection
with the AGM. The proxy statement contains important information
about Sezzle and the AGM. The Company’s stockholders and other
interested persons are advised to read the proxy statement and,
when available, any proxy supplements and amendments thereto, and
any other documents filed in connection with the proposals to be
considered at the AGM. These materials will contain important
information about the Company and the proposals to be considered at
the AGM. The Company’s stockholders will also be able to obtain
copies of these documents filed with the SEC, without charge, once
available, at the SEC’s website at www.sec.gov, or by directing a
request to the Company’s corporate secretary at 700 Nicollet Mall,
Suite 640, Minneapolis, MN 55402.
Participants in the Solicitation
Sezzle, its directors and executive officers may be deemed
to be participants in the proxy solicitation with respect to the
proposals to be considered at the AGM. Information regarding
Sezzle’s directors and executive officers and their ownership of
Sezzle shares is contained in Sezzle’s Annual Report on Form 10-K
for the year ended December 31, 2023 and its proxy statement for
the AGM filed with the SEC on April 23, 2024, and is supplemented
by other public filings made, and to be made, with the SEC.
Sezzle’s directors and executive officers beneficially own
approximately 57.65% of Sezzle’s common stock. Investors and
stockholders may obtain additional information regarding the direct
and indirect interests of Sezzle and its directors and executive
officers with respect to the proposals to be considered at the AGM
by reading the proxy statement and other filings referred to
above.
Erin Foran
Sezzle
6514032184
erin.foran@sezzle.com
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