Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Seamless Group Inc. to Combine with Infint Acquisition to Go Public.

Document Cited in Related
Vincent

MANews-(C)2009-2022

Chicago-based fintech platform Seamless Group Inc. has entered into a definitive business combination agreement with New York-based special purpose acquisition corp. Infint acquisition Corp. (NASDAQ: IFIN) that is expected to result in a newly-combined company that trades publicly under a new company name, the company said.

The transaction values Seamless at an enterprise value at closing of USD 400m.

In connection with the transaction, the aggregate consideration to be paid to Seamless' equity holders will be USD 400m of rollover equity.

Assuming no redemptions by Infint existing public shareholders, the company will have up to USD 189m of cash on its balance sheet following the transaction, which is expected to provide financial flexibility and facilitate organic and inorganic growth opportunities.

Seamless delivers global financial inclusivity for the unbanked and...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT