Fintech Katapult to go public through merger with SPAC FinServ, that values company at $1 billion

Dow Jones

2020/12/18

MW Fintech Katapult to go public through merger with SPAC FinServ, that values company at $1 billion

Katapult Holding Inc. is set to go public, after the e-commerce financial technology announced Friday an agreement to merge with special purpose acquisition company (SPAC), or "blank-check" company, FinServ Acquisition Corp. $(FSRV)$ in a deal that implies an enterprise value for the combined company of about $1 billion. The deal includes a $150 million private investment in public equity (PIPE) from investors led by Tiger Global Management and Neuberger Berman Funds. Once the deal closes, which is expected to occur in the first half of 2021, the company will operate at Katapult and the stock is expected to trade on the Nasdaq under the ticker symbol "KPLT." The reverse merger agreement comes at a time that the Renaissance IPO ETF $(IPO.UK)$ has run up 33.8% over the past three months, while the Global X FinTech ETF $(FINX)$ has climbed 27.3% and the S&P 500 has gained 12.1%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

$(END)$ Dow Jones Newswires

December 18, 2020 09:39 ET (14:39 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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The deal includes a $150 million private investment in public equity (PIPE) from investors led by Tiger Global Management and Neuberger Berman Funds. Once the deal closes, which is expected to occur in the first half of 2021, the company will operate at Katapult and the stock is expected to trade on the Nasdaq under the ticker symbol \"KPLT.\" The reverse merger agreement comes at a time that the <a href=\"https://laohu8.com/S/IPO\">Renaissance IPO ETF</a> <a href=\"https://laohu8.com/S/IPO.UK\">$(IPO.UK)$</a> has run up 33.8% over the past three months, while the <a href=\"https://laohu8.com/S/EFFE\">Global X</a> FinTech ETF <a href=\"https://laohu8.com/S/FINX\">$(FINX)$</a> has climbed 27.3% and the S&amp;P 500  has gained 12.1%. \n</p>\n<p>\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  December 18, 2020 09:39 ET (14:39 GMT)\n</p>\n<p>\n  Copyright (c) 2020 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IPO","symbol_name":"Renaissance IPO ETF","start_time":0,"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2092313157","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2092313157","pubTimestamp":1608302340,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"MW Fintech Katapult to go public through merger with SPAC FinServ, that values company at $1 billion","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IPO":"Renaissance IPO ETF","FINX":"Global X FinTech ETF"},"translate_title":"Fintech Katapult将通过与SPAC FinServ合并上市，该公司估值为10亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FINX":0.9,"IPO":0.9,"FSRV":0.9},"content_text":"MW Fintech Katapult to go public through merger with SPAC FinServ, that values company at $1 billion\n\n\n  Katapult Holding Inc. is set to go public, after the e-commerce financial technology announced Friday an agreement to merge with special purpose acquisition company (SPAC), or \"blank-check\" company, FinServ Acquisition Corp. $(FSRV)$ in a deal that implies an enterprise value for the combined company of about $1 billion. 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Once the deal closes, which is expected to occur in the first half of 2021, the company will operate at Katapult and the stock is expected to trade on the Nasdaq under the ticker symbol \"KPLT.\" The reverse merger agreement comes at a time that the Renaissance IPO ETF $(IPO.UK)$ has run up 33.8% over the past three months, while the Global X FinTech ETF $(FINX)$ has climbed 27.3% and the S&P 500  has gained 12.1%. \n\n\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  December 18, 2020 09:39 ET (14:39 GMT)\n\n\n  Copyright (c) 2020 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}