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Paysafe Completes Business Consolidation which have Foley Trasimene Acquisition Corp. II

Paysafe Completes Business Consolidation which have Foley Trasimene Acquisition Corp. II

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Transaction and you may move to investment places anticipated to speeds increases, improve margins, and you may consistently make on Paysafe’s Yards&A technique

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Combined organization will services given that Paysafe Minimal and certainly will exchange into the the fresh York Stock exchange according to the Ticker PSFE

London, British and you may Las vegas, NV – – Paysafe Class Holdings Restricted, a leading authoritative payments system, and Foley Trasimene Buy Corp. II (NYSE: BFT), (BFT WS) (“Foley Trasimene”), a different purpose buy business, today launched they own completed its in earlier times announced merger. The newest merger try recognized from the another type of fulfilling regarding stockholders out-of Foley Trasimene to the . New mutual team today works once the Paysafe Minimal (“Paysafe”) and you can Paysafe’s preferred offers and you can is deserving of begins exchange toward Nyc Stock exchange (NYSE) beneath the ticker icons “PSFE” and you can “PSFE.WS” respectively, doing the next day, .

Paysafe is actually the leading authoritative payments platform, that have a-two-sided consumer and you will provider circle, whoever core mission is to try to permit enterprises and you will customers inside the community in order to connect and you will interact seamlessly through fee running; digital wallets for instance the Skrill and you may Neteller labels; and online dollars options and additionally paysafecard and Paysafecash.

William P. Foley, II, Originator and President out of Foley Trasimene have a tendency to act as Chairman from Paysafe’s freshly formed Board away from Administrators. Paysafe’s management party going up from the Philip McHugh, Ceo, continues to direct the fresh mutual business. ?

William P. Foley, II, Creator and you can President out of Foley Trasimene and you can Chairman out-of Paysafe, mentioned, “We’re thrilled to complete this business consolidation which have Paysafe and you can I am really thrilled to keep to work alongside Philip, Blackstone, CVC and the whole board once we still perform up against our very own policy for accelerated and effective growth. Paysafe comes with the right property, class and approach positioned so you’re able to take advantage of a tremendous opportunity for long-label value production in the repayments world, particularly in iGaming that is very start to start around the the usa.”

Philip McHugh, President out of Paysafe, stated, “Brand new closing associated with the transaction and our very own listing into the New York Stock-exchange is a significant milestone to have Paysafe and getting up to now today is testament on the effort and you may time and effort your class around the world. I would personally and wish to thank Costs and the Foley Trasimene party due to their support and religion inside our possibility, and additionally Blackstone and you can CVC because of their proceeded funding and you can help. Our company is excited are starting the next level your increases travels as a public business.”

Eli Nagler, an elderly Managing Manager during the Blackstone, said: “Today is a significant milestone having Paysafe and you may an excellent testament to the wonderful really works of its industry-group government team over years. We believe Paysafe possess an extended runway for further gains and you may anticipate kept an element of the group and you can seeing its proceeded achievement since a general public company.”

Peter Rutland, a controlling Partner in the CVC, said, “We have been delighted to have Paysafe because they start their next section as a community team. By consolidating Paysafe’s best alternatives from inside the large-increases, formal , now formulated with Expenses Foley’s reputation improving natural and you will inorganic growth, the firm is amazingly well-arranged to keep a powerful development trajectory and create value to have shareholders and all of most other stakeholders.”

Credit Suisse acted since the head monetary mentor and you may financial support areas advisor to help you Paysafe. Morgan Stanley in addition to acted due to the fact financial coach so you’re able to Paysafe. BofA Ties, J.P. Morgan Bonds LLC, Barclays, Wolfe Financial support Locations and you can Consultative, BMO Investment Avenues and you may Evercore together with acted once the funding places advisors. Simpson Thacher & Bartlett LLP acted as legal counsel in order to Paysafe. Proton People acted as the proper coach in order to Paysafe.

Paysafe Completes Business Consolidation which have Foley Trasimene Acquisition Corp. II
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