Replay Acquisition amended its proxy filing on the proposed merger with lending platform Finance of America to include additional financial details of the deal.
A shareholder vote is still expected this year, based on information in the filing, but a specific date has not been set.
The transaction implies an equity valuation at closing for the combined company of $1.9 billion. Top-tier institutional investors have committed to invest $250 million in the form of a PIPE at a price of $10.00 per share of the combined company’s Class A common stock immediately prior to the closing of the transaction. Estimated cash proceeds will consist of the PIPE in addition to Replay Acquisition’s $288 million of cash in trust, subject to redemptions. Read more.
