Sunlight Financial Merging With Spartan II

Sunlight Financial

Sunlight Financial and Spartan Acquisition II sponsored by an affiliate of Apollo Global Management, today announced that they have entered into a definitive agreement for a business combination.

Sunlight is a \U.S. residential solar financing platform.

The business combination reflects an estimated implied pro forma equity value at closing of $1.3 billion. In connection with the transaction, investors led by Chamath Palihapitiya, Coatue, funds and accounts managed by BlackRock, Franklin Templeton and accounts advised by Neuberger Berman Investment Advisers have committed to invest $250 million in a private purchase of Spartan’s Class A Common Stock at $10 per share immediately prior to the closing of the transaction. Read more.

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