The parties expect to close the transaction on Tuesday, March 30. The combined entity is then expected to trade on the NYSE under the symbol “PSFE” beginning Wednesday, March 31.
Foley Trasimene II did not disclose redemption figures in its release, but the SPAC was not at risk of redemptions with shares opening ahead of the vote at $14.48. In the current down market for SPACs, this marks the Paysafe deal as one of the most popular recent combinations on the market.
The two sides initially announced their $9 billion deal on December 7. Paysafe provides a global payments platform powering digital wallets that handle a run-rate of about $100 billion in transactions annually.
- Credit Suisse is acting as lead financial advisor and capital markets advisor to Paysafe and also acted as lead placement agent on the private offering.
- Morgan Stanley also acted as financial advisor to Paysafe.
- BofA Securities and J.P. Morgan Securities LLC also acted as placement agents on the private offering.
- Simpson Thacher & Bartlett LLP is acting as legal counsel to Paysafe.
- Proton Partners is acting as strategic advisor to Paysafe.
- RBC Capital Markets LLC., BofA Securities and J.P. Morgan are acting as financial advisors to Foley Trasimene.
- Weil, Gotshal & Manges LLP is acting as legal counsel to Foley Trasimene.