Brief: Katapult To Become A Publicly Traded Company Through Merger With Finserv Acquisition Corp.

Katapult Holdings

18/12/2020 17:30

Dec 18 (Reuters) - Finserv Acquisition Corp  FSRV.O :
    * KATAPULT TO BECOME A PUBLICLY TRADED COMPANY THROUGH
MERGER WITH
FINSERV ACQUISITION CORP.
    * FINSERV ACQUISITION CORP - TRANSACTION VALUES KATAPULT AT
A PRO
FORMA ENTERPRISE VALUE OF APPROXIMATELY $1 BILLION
    * FINSERV ACQUISITION CORP -  TRANSACTION INCLUDES $150
MILLION
FULLY COMMITTED PIPE FROM INVESTORS LED BY TIGER GLOBAL
MANAGEMENT & NEUBERGER BERMAN FUNDS
    * FINSERV ACQUISITION CORP - COMBINED COMPANY WILL OPERATE
AS
KATAPULT AND PLANS TO TRADE ON NASDAQ UNDER NEW SYMBOL "KPLT"
    * FINSERV ACQUISITION CORP - TOTAL CONSIDERATION PAID TO
KATAPULT'S EXISTING SHAREHOLDERS WILL BE $833 MILLION
    * FINSERV ACQUISITION CORP - KATAPULT'S CURRENT EQUITY
HOLDERS
WILL OWN ABOUT 50% OF PRO FORMA CO, ASSUMING NO CASH REDEMPTION
    * FINSERV ACQUISITION - CASH COMPONENTS OF DEAL TO BE FUNDED
BY
FINSERV'S CASH IN TRUST OF $250 MILLION & $150 MILLION PRIVATE
PLACEMENT OF COMMON STOCK
    * FINSERV ACQUISITION CORP - BALANCE OF CONSIDERATION TO
KATAPULT'S EQUITY HOLDERS WILL CONSIST OF EQUITY IN COMBINED CO

Source text for Eikon:  ID:nBw33N97ya 
Further company coverage:  FSRV.O 

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