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Foley-backed blank-check acquisition firm nears $9 billion Paysafe deal: sources

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A blank-check acquisition firm backed by veteran investor Bill Foley is nearing a deal to merge with Paysafe, valuing the U.S. payments company at around $9 billion, including debt, people familiar with the matter said on Sunday.

FILE PHOTO: Jun 21, 2017; Las Vegas, NV, USA; Vegas Golden Knights owner Bill Foley arrives on the red carpet before the 2017 NHL Awards and Expansion Draft at T-Mobile Arena. Mandatory Credit: Stephen R. Sylvanie-USA TODAY Sports/File Photo

Part of the financing for the deal will come in the form of a so-called private investment in public equity worth $2 billion, which would make it one of the largest such instruments ever raised, according to the sources. The SPAC model has become an increasingly popular route to the public markets this year over a traditional IPO, including for other payments firms such as Paya and Billtrust.

 

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Blank check. End state capitalism.

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