Digital payments provider Payoneer gets NASDAQ listing

United States digital payments company Payoneer has merged with FTAC Olympus Acquisition Corporation (FTAC), a NASDAQ-listed special purpose acquisition company (SPAC).

Davis Polk & Wardwell acted as legal adviser to Payoneer, with Paul Hastings acting as regulatory counsel. FTAC’s legal counsel was Morgan, Lewis & Bockius.

Following the merger with FTAC Olympus Acquisition, Payoneer has become a publicly-listed company.

The companies announced the completion of the merger on Friday 25 June, following the approval of FTAC’s shareholders in an extraordinary general meeting held two days prior.

A new public company has been formed as a result of the merger, named Payoneer Global. The company began trading on the NASDAQ today.

Payoneers’ management team, comprising CEO Scott Galit, chief financial office Michael Levine and chief operating officer Keren Levy, will carry on leading the company.

Commenting on its new public listing, Galit said: “We are just scratching the surface of the enormous opportunity ahead to help businesses grow and scale in the new global economy,” adding: “This move into the public markets is an important step on our journey to provide any business, in any market, the technology, connections and confidence to realise their potential.”

FTAC’s chairman of the board of directors Betsy Cohen emphasised: “Payoneer has a strong balance sheet with ample capital to expand its already broad suite of services, both organically, by deepening existing merchant relationships and continuing to build new ones, and through strategic acquisitions.”

The merger transaction involved a USD 300 million private investment from certain investors, including Payoneer’s existing investor Wellington Management.

Other participating investors included Dragoneer Investment Group, Fidelity Management & Research Company, Franklin Templeton, Winslow Capital Management, various funds managed by Millennium Management, and funds and accounts advised by T Rowe Price Associates.

Payoneer received financial and capital markets advice from Financial Technology Partners, while PricewaterhouseCoopers acted as its auditors, and Ernst & Young as tax and public markets adviser.

Citi Group and Goldman Sachs were FTAC’s financial and capital markets advisers and Cantor Fitzgerald its capital markets adviser.

US fintech platform MoneyLion  on the New York Stock Exchange via a merger with SPAC Fusion Acquisition Corporation in February. Davis Polk also advised on that transaction.

[TW]

數位支付提供者 Payoneer 在納斯達克上市

美國數位支付公司 Payoneer 已與 FTAC Olympus Acquisition Corporation (FTAC) 合併，後者是一家在納斯達克上市的特殊目的收購公司 (SPAC)。

Davis Polk & Wardwell 擔任 Payoneer 的法律顧問，Paul Hastings 擔任監管顧問。 FTAC 的法律顧問是 Morgan, Lewis & Bockius。

與 FTAC Olympus Acquisition 合併後，Payoneer 成為一家上市公司。

在 FTAC 股東在兩天前舉行的臨時股東大會上批准後，兩家公司於 6 月 25 日星期五宣布完成合併。

合併後成立了一家新的上市公司，名為 Payoneer Global。該公司今天開始在納斯達克交易。

Payoneers 的管理團隊由首席執行官 Scott Galit、首席財務官 Michael Levine 和首席運營官 Keren Levy 組成，將繼續領導公司。

Galit 在評論其新的公開上市時說：“我們只是觸及了巨大機遇的皮毛，以幫助企業在新的全球經濟中成長和擴大規模，”並補充說：“進入公開市場是我們邁出的重要一步。在任何市場為任何企業提供技術、聯繫和信心以實現其潛力的旅程。”

FTAC 董事會主席 Betsy Cohen 強調：“Payoneer 擁有強大的資產負債表和充足的資本，可以通過深化現有的商家關係和繼續建立新的關係，以及通過戰略收購有機地擴展其已經廣泛的服務套件。 ”

合併交易涉及某些投資者的 3 億美元私人投資，其中包括 Payoneer 現有的投資者 Wellington Management。

其他參與的投資者包括 Dragoneer Investment Group、Fidelity Management & Research Company、Franklin Templeton、Winslow Capital Management、Millennium Management 管理的各種基金以及 T Rowe Price Associates 提供諮詢的基金和賬戶。

Payoneer 從金融技術合作夥伴那裡獲得金融和資本市場建議，普華永道擔任其審計師，安永會計師事務所擔任稅務和公開市場顧問。

花旗集團和高盛是 FTAC 的金融和資本市場顧問，Cantor Fitzgerald 是其資本市場顧問。

美國金融科技平台 MoneyLion 於 2 月與 SPAC Fusion Acquisition Corporation 合併，在紐約證券交易所上市。戴維斯波爾克還為該交易提供諮詢。