Perella Weinberg Partners - Ordinary Shares - Class A

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9.08
+0.09 (+1.00%)
Debt Financing / Related, Other Pre-Announcement, Mergers / Acquisitions

Perella Weinberg Partners And FinTech IV Announce Execution Of Definitive Business Combination Agreement

Published: 12/30/2020 12:30 GMT
(FTIV) - Perella Weinberg Partners and Fintech Iv Announce Execution of Definitive Business Combination Agreement.company to List on Nasdaq Under Ticker Symbol "pwp".
Transaction Includes Commitments for a $125 Million Common Stock Private Placement From Institutional Investors.
Perella Weinberg Partners' Working Partners and Employees Will Own Approximately 50% of Company Post-closing.
Transaction Reflects an Implied Equity Value for Company of Approximately $975 Million.
Cash Component of Consideration Will Be Funded by Fintech Iv's $230 Million Cash in Trust.
Immediately Following Closing, Fintech Iv Will Change Its Name to Perella Weinberg Partners.combined Company Will Operate As Perella Weinberg Partners.
Pwp Expects to Have a Debt-free Balance Sheet With Access to Additional Liquidity Under an Undrawn Revolving Credit Facility.
Net Proceeds From Transaction (after Addressing Any Potential Redemptions), Will Go Towards Repayment of Outstanding Indebtedness.