Pathfinder Acquisition in a news release said its registration statement outlining the proposed merger with ServiceMax has been declared effective by the SEC. The SPAC has scheduled a Dec. 7 meeting for shareholders to vote on the deal, which values the business combination at $1.4 billion.
ServiceMax provides asset-centric field service management software.
As announced in July, the transaction is expected to deliver approximately $335 million of gross proceeds to the combined company from the cash held in Pathfinder’s trust account, assuming no redemptions, and including proceeds from a strategic common equity investment by software companies PTC and Salesforce Ventures at the same valuation as the business combination transaction.
Existing investors Silver Lake, Salesforce Ventures, and GE are retaining their full equity ownership in ServiceMax. Read more.
