FlexShopper Inc. started an offer to exchange 0.62 of a share of the company's common stock for each outstanding public warrant.

The exchange offer will expire at 5 p.m. ET on Feb. 4, unless extended.

Warrants not exchanged pursuant to the offer will be converted into shares at a rate of 0.56 of a share of the company's common stock per public warrant, 10% lower than the exchange rate applicable to the offer. Following the completion of the offer and conversion, the public warrants will be delisted.

FlexShopper will exchange all public warrants properly tendered and not properly withdrawn prior to the expiration of the offer.

The information agent for the offer is Morrow Sodali, while the depositary for the offer is Continental Stock Transfer & Trust Co.