Beacon Street Group, a multi-brand digital subscription services platform that provides premium financial research, software, education, and tools for self-directed investors, and Ascendant Digital Acquisition announced today that they have entered into a definitive business combination agreement at a pro forma enterprise value of $3 billion.
Aggregate consideration to Beacon Street equity holders will be approximately $2.9 billion, consisting of up to $374 million of cash and $2.5 billion or more of rollover equity. The cash consideration will be funded by Ascendant’s cash in trust of approximately $414 million, as well as a $150 million PIPE. Read more.
