Enova International formally terminated its merger agreement with Grasshopper Bancorp on October 16, 2026. The companies mutually agreed to dissolve the deal originally signed in December 2025.
Enova will make a $4 million cash payment to Grasshopper. This settlement ensures neither party has further liabilities or fees.
The termination follows Enova’s withdrawal of its bank regulatory applications in September 2026. The acquisition was designed to secure a national bank charter.
Enova will absorb the $4 million cost without acquiring any banking operations. No market reaction was recorded following the announcement.