TWND - Cannae to invest new $50M in QOMPLX and Tailwind Acquisition merger

March, 02 2021 07:20 AM Tailwind Acquisition Corp. Class A

Cannae (CNNE) announced that in conjunction with the announced QOMPLX and Tailwind Acquisition (TWND) merger it plans to invest $50M in the newly combined entity, including $37.5M as part of a private investment in public equity for 3.75 shares of TWND in addition to 835,539 founder shares, and $12.5M into a convertible promissory note.Note has a one-year term and carries a 7.5% annual interest rate, and is expected to convert into 1.25M TWND shares on transaction closure.For Cannae's total investment of $80M (includes $30M in 4Q20), the company would receive ~23.7M TWND shares.Transaction values QOMPLX at an estimated post-transaction equity value of $1.4B at $10/share.The combined company will receive ~$280M of gross proceeds from a fully committed common stock PIPE offering of $180M, along with ~$334M cash held in trust, given ~$200M in cash acquisition costs, and assuming minimal redemptions by Tailwind's existing public stockholders.Proposed business combination is expected to

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Cannae to invest new $50M in QOMPLX and Tailwind Acquisition merger

Company Name:	Tailwind Acquisition Corp. Class A
Stock Symbol:	TWND
Market:	NYSE

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