GS Acquisition in a news release today said it expects to satisfy all closing conditions in itsw pending merger with Mirion Technologies. The SPAC’s figures show about 26 percent of its shares were redeemed ahead of the vote.
“Based on the number of public shares submitted for redemption, the transaction is expected to raise approximately $554 million from GSAH trust proceeds, $900 million from a fully committed common stock private placement (PIPE) and $830 million from a senior secured term loan financing,” the SPAC said.
As announced in June, Mirion was to receive $750 million from the SPAC’s trust, plus the PIPE.
A portion of the proceeds will be used to pay $1.3 billion to existing Mirion stockholders, to refinance approximately $909 million of existing third-party debt and to pay certain transaction expenses.
Mirion is engaged in radiation detection technology.
A vote on the deal is scheduled for tomorrow. Read more.
