Brief: GCM Grosvenor to Become a Public Company

GCM Grosvenor

03/08/2020 16:17

Aug 3 (Reuters) - CF Finance Acquisition Corp  CFFA.O :
    * GCM GROSVENOR TO BECOME A PUBLIC COMPANY
    * CF FINANCE ACQUISITION CORP - GCM GROSVENOR AND CO
ANNOUNCE
AGREEMENT TO MERGE
    * CF FINANCE ACQUISITION - COMBINED CO WILL OPERATE AS GCM
GROSVENOR INC., EXPECTS ITS CLASS A COMMON STOCK TO BE LISTED ON
NASDAQ
    * CF FINANCE ACQUISITION CORP - TRANSACTION VALUES GCM
GROSVENOR
AT $2 BILLION
    * CF FINANCE ACQUISITION - GCM GROSVENOR MANAGEMENT WILL OWN
IN
EXCESS OF 70% OF EQUITY INTERESTS OF COMBINED COMPANY
    * CF FINANCE ACQUISITION - ENTITIES AFFILIATED WITH HELLMAN
&
FRIEDMAN TO SELL THEIR EQUITY INTEREST IN GCM UPON COMPLETION OF
TRANSACTION
    * CF FINANCE ACQUISITION - GCM GROSVENOR'S EXISTING SENIOR
MANAGEMENT TEAM, LED BY CHAIRMAN & CEO MICHAEL SACKS, WILL
CONTINUE TO LEAD COMBINED CO
    * CF FINANCE ACQUISITION CORP - INSTITUTIONAL INVESTORS TO
INVEST
$195 MILLION AT CLOSING AT $10.00 PER SHARE
    * CF FINANCE ACQUISITION CORP - CANTOR FITZGERALD WILL ALSO
INVEST
ADDITIONAL $30 MILLION AT CLOSING OF TRANSACTION

Source text for Eikon:  ID:nPn9CYgS8a 
Further company coverage:  CFFA.O 

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