CNNE - Foley Trasimene Acquisition II shares surge on merger announcement with Paysafe at $9B valuation

Foley Trasimene Acquisition Corp. II (BFTU) and Paysafe Group Holdings Limited announces plan of merger at an implied pro-forma enterprise value for Paysafe of ~$9B.The newly combined company will operate as Paysafe and plans to list on the New York Stock Exchange under the symbol PSFE. Bill Foley to become Chairman of the board of directors and Paysafe CEO Philip McHugh will continue leading the combined company. Paysafe is a leading integrated payments platform, with a two-sided consumer and merchant network processing $100B volume. The company's core purpose is to enable businesses and consumers around the world to connect and transact seamlessly through payment processing, digital wallet and online cash solutions. Transaction includes a $2B fully committed PIPE from investors including a $500M investment from Fidelity National Title Insurance Co., Chicago Title Insurance Co., Commonwealth Land Title Insurance Co. and Fidelity & Guaranty Life Insurance Co., and a $350M investment from Cannae Holdings

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Foley Trasimene Acquisition II shares surge on merger announcement with Paysafe at $9B valuation