Paysafe Finishes Team Consolidation with Foley Trasimene Purchase Corp. II
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Deal and proceed to money areas likely to speed gains, increase margins, and you may still create upon Paysafe’s Yards&A technique
Press announcements
Combined team usually perform given that Paysafe Limited and certainly will exchange for the the fresh new York Stock market under the Ticker PSFE
London area, British and you will Las vegas, NV – – Paysafe Group Holdings Limited, a number one authoritative money program, and you may Foley Trasimene Buy Corp. II (NYSE: BFT), (BFT WS) (“Foley Trasimene”), an alternative objective purchase company, now announced they have completed its before revealed merger. The fresh merger is actually acknowledged during the a new meeting out of stockholders away from Foley Trasimene with the . The brand new joint company now works given that Paysafe Limited (“Paysafe”) and you may Paysafe’s common shares and you can deserves begins trading for the Ny Stock exchange (NYSE) in ticker symbols “PSFE” and you can “PSFE.WS” respectively, performing the next day, .
Paysafe try a number one specialized payments system, with a two-sided user and you can seller network, whose core objective will be to enable companies and people within industry to connect and you may transact effortlessly compliment of commission processing; digital purses like the Skrill and you will Neteller labels; and online dollars options and paysafecard and you may Paysafecash.
William P. Foley, II, Maker and you can President from Foley Trasimene will act as Chairman away from Paysafe’s freshly designed Board out-of Administrators. Paysafe’s administration people oriented up because of the Philip McHugh, President, continues to direct the brand new combined providers. ?
William P. Foley, II, Creator and you can Chairman regarding Foley Trasimene and you will Chairman regarding Paysafe, stated, “Our company is very happy to complete this provider integration with Paysafe and you can I am really thrilled to keep to utilize Philip, Blackstone, CVC additionally the whole panel as we consistently play against our arrange for expidited and successful progress. Paysafe has got the right possessions, cluster and means positioned so you can exploit a tremendous chance https://servicecashadvance.com/installment-loans-al/ for very long-name well worth development in the costs business, particularly in iGaming that’s really start to start across the the usa.”
Philip McHugh, Ceo regarding Paysafe, said, “New closure of the exchange and you will our number into the The fresh York Stock-exchange is a huge milestone for Paysafe and obtaining to this point today is testament into efforts and you may hard work of our cluster globally. I might in addition to wish thank Bill plus the Foley Trasimene people because of their support and you can belief within our possibility, and Blackstone and you may CVC for their proceeded financing and you will service. We’re excited as starting the next level in our gains travel due to the fact a public team.”
Eli Nagler, an elderly Dealing with Manager from the Blackstone, said: “Now is a huge milestone getting Paysafe and you will a good testament so you’re able to the wonderful performs of its business-classification administration cluster over years. We think Paysafe keeps a lengthy runway for further development and you will look forward to remaining a portion of the class and you may enjoying their continued achievements as the a community company.”
Peter Rutland, a regulating Partner within CVC, told you, “The audience is pleased getting Paysafe because they start the 2nd section as the a general public organization. By combining Paysafe’s leading options from inside the higher-growth, authoritative , now supplemented with Costs Foley’s reputation boosting natural and inorganic increases, the firm is incredibly well-arranged to continue a robust increases trajectory and construct worth having investors and all most other stakeholders.”
Borrowing Suisse acted as direct economic advisor and you can investment avenues advisor in order to Paysafe. Morgan Stanley including acted given that monetary coach to Paysafe. BofA Securities, J.P. Morgan Bonds LLC, Barclays, Wolfe Investment Segments and Advisory, BMO Capital Avenues and Evercore in addition to acted due to the fact capital areas advisors. Simpson Thacher & Bartlett LLP acted given that legal counsel to Paysafe. Proton Couples acted just like the proper advisor in order to Paysafe.