MoneyLion whimpers in debut after SPAC merger

Moneylion

23/09/2021 15:43

** MoneyLion Inc  ML.N  shares fall as much as 13.2% to
$8.68 in mobile banking platform's official debut on Thurs
    ** ML begins trading on NYSE after completing merger with
special purpose acquisition co (SPAC) Fusion Acquisition Corp
 urn:newsml:reuters.com:*:nGNXblt3P3
    ** The $2.9 bln deal announced in Feb supported by $250 mln
private investment from funds and accounts managed by BlackRock
 BLK.N  and affiliates of Apollo Global Management  APO.N , and
others  urn:newsml:reuters.com:*:nL4N2KI233
    ** Earlier this month, co raised annual revenue guidance,
pointing to expected contribution of planned product launches
this year, including new cryptocurrency and buy now, pay later
offerings  urn:newsml:reuters.com:*:nGNX6HB7mx
    ** Shares hit record peak of $12.90 on Feb 12 after merger
was announced

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))