Ascendant Digital Acquisition scheduled a July 20 meeting for shareholders to vote on the SPAC’s proposed merger with MarketWise, a digital subscription services platform that provides financial research, software, education, and tools for self-directed investors.
A prospectus and S-4 have been filed and declared effective by the SEC.
Following the merger, MarketWise, formerly known as Beacon Street Group, would have a pro forma enterprise value of $3 billion.
Announced in March, aggregate consideration to MarketWise 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.
