Capitalize Financial
No Result
View All Result
Saturday, February 4, 2023
  • Home
  • Business
  • Economy
  • World
  • Markets
  • Tech
  • Real Estate
Capitalize Financial
  • Home
  • Business
  • Economy
  • World
  • Markets
  • Tech
  • Real Estate
No Result
View All Result
Capitalize Financial
No Result
View All Result
Home Sports

Foley-Backed SPAC Reaches Merger Deal With System1 Marketing Firm

by capitalizefinancial
June 29, 2021
in Sports
0

Marketing firm System1 has agreed to go public through a merger with a blank-check firm backed by Bill Foley in a deal that will give the combined company an enterprise value of $1.4 billion, according to people familiar with the matter.

The transaction with Foley’s Trebia Acquisition Corp. will provide about $175 million to fund the new company’s growth and acquisitions, said the people, who asked not to be identified because the information wasn’t public.

The transaction includes up to $600 million in financing, consisting of a $200 million equity backstop from Foley’s Cannae Holdings Inc. as well as debt, the people said. Concurrent with the transaction, System1 is combining with Protected.net, which develops security and privacy subscription products, they said.

System1 co-founder, Chief Executive Officer and Chairman Michael Blend will continue in his current roles, with Foley and Trebia Chairman Frank Martire joining the company’s board, the people said.

Trebia is one of several special purpose acquisition companies launched by Foley, who has risen to the top tier of backers during the SPAC surge of the past year.

Trebia, named after a historic European battle like some other Foley-backed SPACs, raised $517.5 million including so-called greenshoe shares in an initial public offering in June 2020. The largest of Foley’s SPACs, Foley Trasimene Acquisition Corp. II, raised $1.47 billion in August.

Continues..

No Result
View All Result

Subscribe Us

By clicking on Subscribe, I confirm that I have read and agree to the terms set forth in the Privacy Policy and Terms of Service including Capitalize Financial ability to use and share my information and Capitalize Financial, or third-party companies and business partners, may send me offers for products and services at the email address I have provided. I understand that my information may be supplemented with additional information obtained from other sources.
  • Trending
  • Comments
  • Latest

Capital One Savings Account Rates for November 2022

Gas Prices Today, October 22, 2022: Check the cheapest Gas Stations Today

7 personal finance tips for Gen Z, from a Gen Xer

NASA’s Orion spacecraft breaks Apollo 13 flight record

10 Best Finance Podcasts for 2023

10 Best Finance Podcasts for 2023

NASA’s Webb Telescope Confirms First Exoplanet

Finance industry sacks staff as economy falters

7 personal finance tips for Gen Z, from a Gen Xer

Recent News

10 Best Finance Podcasts for 2023

NASA’s Webb Telescope Confirms First Exoplanet

Categories

  • Business
  • Cryptocurrency
  • Economy
  • entertainment
  • finance
  • health
  • Markets
  • Music
  • Opinion
  • Politics
  • Real Estate
  • Science
  • Sports
  • Tech
  • World

Site Navigation

  • Contact Us
  • Privacy & Policy
  • Terms Of Service
  • Unsubscribe

© 2021 capitalize Financial All Rights Reserved

No Result
View All Result
  • Advertisement
  • Contact Us
  • Homepages
    • Home 1
    • Home 2
    • Home 3
    • Home 4
    • Home 5
  • World
  • Economy
  • Business
  • Opinion
  • Markets
  • Tech
  • Real Estate

© 2021 capitalize Financial All Rights Reserved