News Formal

Mobile bank MoneyLion to go public via blank-check merger in $2.9 billion deal

  • 📰 Reuters
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Mobile banking platform MoneyLion Inc said on Friday it has agreed to go public through a merger with blank-check firm Fusion Acquisition Corp, in a deal that values the equity of the combined company at $2.9 billion.

MoneyLion said it expects the combined company, which will have an enterprise value of $2.4 billion, to get $526 million in cash proceeds.

New York-based fintech company MoneyLion was founded in 2013 and is led by co-founder and Chief Executive Officer Diwakar Choubey, a Wall Street executive who has held senior positions at Goldman Sachs Group Inc, Citadel and Barclays PLC. SPACs, or special purpose acquisition companies like Fusion, raise money through an initial public offering to acquire a private company, which becomes public as a result of the merger.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

oooo moneylion the bank that makes fancy bank names sound crazy

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 2. in SE

Sverige Senaste nytt, Sverige Rubriker