Fusion Acquisition in an 8-K filing said its shareholders voted in favor of the business combination with financial platform MoneyLion. The deal values the combined company at 2.4 billion.
Proceeds consist of up to $350 million of cash held in Fusion’s trust and an additional $250 million fully committed PIPE at $10 per share led by funds and accounts managed by BlackRock, certain funds managed by affiliates of Apollo Global Management.
MoneyLion is a consumer-focused mobile banking, lending, and investment platform.
The filing did not list redemption numbers, if any, although the SPAC traded consistently above $10 through its redemption deadline and popped to $11.29 at one point this morning.
Nearly 99 percent of the voted shares were in support of the deal. Read more.
