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BRIEF-Etoro To Become Publicly Traded Through Business Combination With FinTech Acquisition Corp V

· 03/16/2021 07:19
BRIEF-Etoro To Become Publicly Traded Through Business Combination With FinTech Acquisition Corp V

- Fintech Acquisition Corp V FTCV.O:

  • ETORO, THE WORLD’S LEADING SOCIAL INVESTMENT NETWORK, TO BECOME PUBLICLY TRADED THROUGH BUSINESS COMBINATION WITH FINTECH ACQUISITION CORP. V

  • FINTECH ACQUISITION CORP V - COMPANY EXPECTED TO HAVE AN ESTIMATED IMPLIED EQUITY VALUE OF APPROXIMATELY $10.4 BILLION

  • FINTECH ACQUISITION CORP V - COMBINED COMPANY WILL OPERATE AS ETORO GROUP LTD AND IS EXPECTED TO BE LISTED ON NASDAQ

  • FINTECH ACQUISITION CORP V - IN 2020, ETORO ADDED OVER 5 MILLION NEW REGISTERED USERS AND GENERATED GROSS REVENUES OF $605 MILLION

  • FINTECH ACQUISITION CORP - DEAL INCLUDES COMMITMENTS FOR $650 MILLION COMMON SHARE PRIVATE PLACEMENT FROM INVESTORS INCLUDING SOFTBANK VISION FUND 2

  • FINTECH ACQUISITION CORP V - EXISTING ETORO EQUITY HOLDERS WILL REMAIN LARGEST INVESTORS IN COMBINED CO

  • FINTECH ACQUISITION CORP V - EXISTING ETORO EQUITY HOLDERS WIL RETAIN ABOUT 91% OWNERSHIP IN COMBINED CO IMMEDIATELY AFTER COMBINATION

  • FINTECH ACQUISITION CORP V - DEAL INCLUDES COMMITMENTS FROM THIRD POINT LLC, FIDELITY MANAGEMENT & RESEARCH COMPANY LLC, AND WELLINGTON MANAGEMENT

  • FINTECH ACQUISITION CORP V - COMBINED CO EXPECTED TO HAVE APPROXIMATELY $800 MILLION NET CASH ON ITS BALANCE SHEET

  • FINTECH ACQUISITION CORP V - IN JANUARY 2021, ETORO ADDED OVER 1.2 MILLION NEW REGISTERED USERS TO SOCIAL NETWORK

  • FINTECH ACQUISITION CORP V - IN JANUARY 2021, ETORO SAW OVER 75 MILLION TRADES EXECUTED ON ETORO PLATFORM.

  • FINTECH ACQUISITION CORP V - DEAL REFLECTS IMPLIED ENTERPRISE VALUE FOR ETORO OF APPROXIMATELY $9.6 BILLION.

Source text for Eikon: ID:nGNX68QTGD

Further company coverage: FTCV.O


((Reuters.Briefs@thomsonreuters.com;))