Brief: Syniverse Announces Plans To Become Publicly Traded Via Merger With M3-Brigade Acquisition II Corp.

M3-Brigade Acquisition II

17/08/2021 24:13

Aug 16 (Reuters) - M3-Brigade Acquisition Ii Corp  MBAC.N :
    * SYNIVERSE ANNOUNCES PLANS TO BECOME PUBLICLY TRADED VIA
MERGER
WITH M3-BRIGADE ACQUISITION II CORP.
    * TRANSACTION VALUES SYNIVERSE AT AN ENTERPRISE VALUE OF
$2.85
BILLION
    * DEAL EXPECTED TO SIGNIFICANTLY ENHANCE BALANCE SHEET
THROUGH
$1.165 BILLION IN CASH PROCEEDS TO COMPANY
    * PUBLICLY TRADED COMPANY WILL BE NAMED SYNIVERSE
TECHNOLOGIES
CORP, COMMON STOCK WILL BE LISTED ON NYSE UNDER TICKER 'SYNV'
    * MBAC WILL PROVIDE UP TO $400 MILLION OF CASH, TWILIO WILL
MAKE
AN INVESTMENT OF UP TO $750 MILLION, WITH A MINIMUM INVESTMENT
OF $500 MILLION
    * FOLLOWING CLOSING, SYNIVERSE WILL CONTINUE TO BE LED BY
CHIEF
EXECUTIVE OFFICER ANDREW DAVIES AND ITS LEADERSHIP TEAM
    * CARLYLE, SYNIVERSE'S MAJORITY OWNER, WILL RETAIN ALL ITS
CURRENT
INVESTMENT IN SYNIVERSE,BE LARGEST SHAREHOLDER IN TRADED CO
    * SYNIVERSE HAS OBTAINED COMMITTED DEBT FINANCING FOR NEW $1
BILLION TERM LOAN,$165 MILLION REVOLVING CREDIT FACILITY TO BE
COMPLETED AT CLOSING
    * BOARDS OF DIRECTORS OF BOTH MBAC AND SYNIVERSE HAVE
UNANIMOUSLY
APPROVED PROPOSED TRANSACTION

Source text for Eikon:  ID:nNDL3NV7VJ 
Further company coverage:  MBAC.N 

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