Crescent Acquisition filed a definitive proxy statement outlining terms of its merger with LiveVox Holdings, a cloud-based provider of customer service and digital engagement tools.
Terms of the transaction call for the combined entity to receive approximately $250 million from Crescent’s trust account, assuming no redemptions, as well as a $75 million PIPE from a group of institutional investors and $25 million from a forward purchase agreement entered into by Crescent Capital Group Holdings. Upon completion of the transaction and assuming no redemptions, parent company Golden Gate Capital and various current minority owners of LiveVox expect to hold approximately 59 percent of the newly public company.
Crescent set a shareholder vote on the deal for June 16.
If approved, LiveVox Holdings common stock, units and warrants will list on the Nasdaq under LVOX, LVOXU and LVOXW, respectively. Read more.
