Perella Weinberg Partners - Ordinary Shares - Class A
:FTIV 2:54:16 PM EDT
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.
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.