NextPoint Acquisition filed its final non-offering prospectus in connection with its previously announced acquisitions of Liberty Tax and LoanMe. The SPAC expects the transaction to close July 2.
NextPoint Financial expects to generate $100 million in pro forma adjusted EBITDA in 2021, increasing to $249 million in pro forma adjusted EBITDA by 2023, primarily through the sale of LoanMe’s products across the Liberty Tax customer base and through the launch of new financial products and services. At the current share price, the company’s enterprise value to pro forma adjusted EBITDA in 2021 calculates to a multiple of 6.4x.
NextPoint has obtained a commitment for a new $200 million revolving credit facility and has received commitments to purchase $25 million of NextPoint common stock equivalents at a price of $10 per share, which may be used by NextPoint to fund the Liberty Tax and LoanMe cash purchase prices and general corporate purposes. Read more.
