Paysafe goes public after completing Foley Trasimene merger

Paysafe goes public after completing Foley Trasimene merger

Payments provider Paysafe Group has finalised its merger with special purpose acquisition company Foley Trasimene Acquisition Corporation.

Published 31st March 2021

Under the agreement, the combined business will operate as Paysafe Limited, with its common shares to trade on the New York Stock Exchange under the ticker symbols PSFE and PSFE.WS from today (31 March).

William Foley, the founder and chairman of Foley Trasimene, will now serve as chairman of Paysafe’s newly formed board of directors, while Paysafe’s chief executive Philip McHugh will lead the business and its management team.

Paysafe previously said that the merger, which was first announced in December of last year, would create a combined entity valued at $9.0bn (£6.5bn/€7.7bn).

Existing Paysafe equity holders, including Blackstone, CVC and its management, will remain the largest investors in the business.

Read the full story on iGB.

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