TREB - SPAC Trebia Acquisition gains on deal to take marketing firm System1 public

June, 29 2021 08:13 AM Trebia Acquisition Corp. Class A

Parradee Kietsirikul/iStock via Getty Images Bill Foley-backed SPAC Trebia Acquisition (TREB) rose 0.8% in premarket trading on a deal to to take marketing firm System1 public in a deal that will value the company at $1.4B. The transaction includes up to $600M of fully committed financing, comprised of a debt commitment of up to $400M and a $200M equity backstop from Cannae Holdings (CNNE), according to a statement. The deal will provide $175M in cash to System1's balance sheet Concurrent with this transaction, System1 will combine with Protected.net, a developer of security and privacy subscription products with over 2m paying subscribers.. The deal is expected to close in Q4 and the parent company will known a System1 and will trade on the NYSE under the ticker symbol "SST." Evercore is acting as exclusive financial advisor to System1. Latham & Watkins LLP and Willkie Farr & Gallagher LLP are acting as legal

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SPAC Trebia Acquisition gains on deal to take marketing firm System1 public

Company Name:	Trebia Acquisition Corp. Class A
Stock Symbol:	TREB
Market:	NYSE

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