Alight Solutions, a cloud-based provider of integrated digital human capital and business solutions, and Foley Trasimene Acquisition today announced the completion of their merger, which was approved by the SPAC’s stockholders June 30.
Alight common stock and warrants begin trading on the NYSE today under ALIT and ALITW.
The merger reflects an implied pro-forma enterprise value for Alight of approximately $7.3 billion.
The cash component of the deal was funded by the SPAC’s cash in trust, $300 million in proceeds from forward-purchase agreements with Cannae Holdings and THL FTAC LLC, an affiliate of Thomas H. Lee Partners, as well as a $1.55 billion private placement from various institutional and private investors.
Foley Trasimene raised $750 million in an IPO last year. That amount held in trust, combined with the $300 million in forward purchase agreements and $1.55 billion in private placements brings the Alight acquisition price to about $3.05 billion. Read more.
