British kids finance firm GoHenry has been snapped up by US investing app Acorns in a deal which will see its financial education tools rolled out to millions of new customers.British kids finance firm GoHenry has been snapped up by US investing app Acorns in a deal which will see its financial education tools rolled out to millions of new customers in the US.
As fintech Acorns plans to go public later this year, it has named former Twitter and DreamWorks animation exec Rich Sullivan to serve as its new chief financial officer. Irvine, California-based Acorns announced in May its intent to go public by merging with publicly traded special purpose acquisition company Pioneer Merger Corp. The SPAC values […]
When it is finalized, Acorns will trade on the Nasdaq under the symbols OAKS a nod to the company s motto and analogy of growing acorns into mighty oaks. Now was the time to go public to accelerate our growth and get the tools of responsible wealth-making in everyone s hands as fast as possible, when they need it most, said Acorns CEO Noah Kerner. We just saw this as an accelerant on that journey.
Institutional investors Wellington Management, Greycroft, TPG s global impact investing platform, and funds managed by BlackRock also committed to a private placement as part of the announcement. Kerner and Pioneer s sponsor each plan to contribute 10% of their personal ownership in Acorns as a gift to eligible Acorns customers.
Consumer finance startup Acorns to go public in over US$2 billion SPAC deal Toggle share menu
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REUTERS: Acorns Grow Inc said on Thursday it was going public through a merger with blank-check company Pioneer Merger Corp in a deal valuing the savings and investing app at about US$2.2 billion.
Acorns Grow will receive cash proceeds of over US$450 million from the deal, which includes a private placement at US$10 per share from investors including Declaration Partners, Greycroft, TPG s global impact investing platform and BlackRock Inc.
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Launched in late 2014, California-based Acorns helps consumers invest in stocks and bonds and operates on a subscription-based model that has four million subscribers in the United States.
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