Katapult to Become a Publicly Traded Company Through Merger
Katapult to Become a Publicly Traded Company Through Merger With FinServ Acquisition Corp.
Leading e-commerce focused point-of-sale platform for nonprime consumers
Transaction values Katapult at a pro forma enterprise value of approximately $1 billion and equity value of $962 million, representing EV/EBITDA multiples of 14.1x and 6.6x projected EBITDA for 2021 and 2022, respectively. Total consideration paid to Katapult’s existing shareholders will be $833 million.
Cash proceeds of the transaction will fund up to $325 million of cash consideration to Katapult’s existing shareholders and $50 million of cash to Katapult’s balance sheet. The cash components of the transaction will be funded by FinServ’s cash in trust of $250 million
Transaction includes a $150 million fully committed PIPE at $10 per share from investors led by Tiger Global Management & Neuberger Berman Funds
Attractive, profitable financial profile with approximately $250 million of projected revenue (+172% y/y) for 2020
Proven and experienced management team, who will continue leading the combined company
The transaction is expected to close during the first half of 2021
businesswire.com/news/home/20201218005404/en/Katapult-to-Become-a-Publicly-Traded-Company-Through-Merger-With-FinServ-Acquisition-Corp.
Leading e-commerce focused point-of-sale platform for nonprime consumers
Transaction values Katapult at a pro forma enterprise value of approximately $1 billion and equity value of $962 million, representing EV/EBITDA multiples of 14.1x and 6.6x projected EBITDA for 2021 and 2022, respectively. Total consideration paid to Katapult’s existing shareholders will be $833 million.
Cash proceeds of the transaction will fund up to $325 million of cash consideration to Katapult’s existing shareholders and $50 million of cash to Katapult’s balance sheet. The cash components of the transaction will be funded by FinServ’s cash in trust of $250 million
Transaction includes a $150 million fully committed PIPE at $10 per share from investors led by Tiger Global Management & Neuberger Berman Funds
Attractive, profitable financial profile with approximately $250 million of projected revenue (+172% y/y) for 2020
Proven and experienced management team, who will continue leading the combined company
The transaction is expected to close during the first half of 2021
businesswire.com/news/home/20201218005404/en/Katapult-to-Become-a-Publicly-Traded-Company-Through-Merger-With-FinServ-Acquisition-Corp.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.