Veteran investor Bill Foley’s SPAC, Foley Trasimene Acquisition II, today announced plans to merge with Paysafe, valuing the payments company at around $9 billion, including debt. Part of the financing would come from a $2 billion PIPE. Plans call for the combined company to list on the NYSE.
Foley’s Cannae Holdings will invest $350 million in the deal. The $2 billion PIPE includes a $500 million investment from Fidelity National Title Insurance Co., Chicago Title Insurance Co., Commonwealth Land Title Insurance Co. and Fidelity & Guaranty Life Insurance Co. and the 350 million investment from Cannae. Read more.
Foley Trasimene II to Merge With Paysafe in $9B Deal
