Brief: Metromile, A Leading Digital Insurance Platform, To Become Public Company

Alpha Modus Holdings

24/11/2020 12:12

Nov 24 (Reuters) - Insu Acquisition Corp II  INAQ.O :
    * METROMILE, A LEADING DIGITAL INSURANCE PLATFORM, TO BECOME
PUBLIC COMPANY
    * INSU ACQUISITION CORP II - TRANSACTION INCLUDES COMMITMENT
FOR
$160 MILLION PIPE LED BY SOCIAL CAPITAL
    * INSU ACQUISITION CORP II - APPROXIMATELY $1.3 BILLION
COMBINED
COMPANY PRO FORMA IMPLIED MARKET CAP
    * INSU ACQUISITION CORP II - TRANSACTION TO PROVIDE COMBINED
COMPANY WITH UP TO AN ESTIMATED $294 MILLION IN CASH TO PURSUE
GROWTH INITIATIVES
    * INSU ACQUISITION CORP II - METROMILE CEO DAN PRESTON TO
CONTINUE
LEADING COMPANY
    * INSU ACQUISITION CORP II - UPON CLOSING OF TRANSACTION,
COMBINED
COMPANY WILL BE NAMED METROMILE, INC
    * INSU ACQUISITION CORP II -COMBINED CO EXPECTED TO REMAIN
LISTED
ON NASDAQ UNDER NEW TICKER SYMBOL "MLE"

Source text for Eikon:  ID:nGNX3rfyT1 
Further company coverage:  INAQ.O 

 ((Reuters.Briefs@thomsonreuters.com;))