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NEW YORK and LONDON and MORRISTOWN, N.J., Jan. 15, 2021 /PRNewswire/ TowerBrook Capital Partners L.P. ( TowerBrook ), an international investment management firm, and Further Global Capital Management ( Further Global ), a private equity firm focused on the financial services industry, today announced the signing of a definitive merger agreement, under which affiliates of TowerBrook and Further Global will acquire all outstanding shares of common stock of ProSight Global, Inc. (NYSE: PROS) ( ProSight or the Company ), a domestic specialty insurance company, in an all-cash transaction valued at approximately $586,000,000.
Under the terms of the agreement, ProSight stockholders will receive $12.85 per share of common stock, which represents a 42% premium to the closing share price as on September 23, 2020, the last trading day prior to media reports about a possible acquisition by TowerBrook. TowerBrook will acquire a majority stake in Pro
By Reuters Staff
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(Reuters) - Boutique investment bank Perella Weinberg Partners on Wednesday agreed to go public through a merger with a blank-check firm, or a special purpose acquisition company (SPAC), backed by banking entrepreneur Betsy Cohen in a deal valued at $975 million.
Cohen’s FinTech Acquisition Corporation IV, which had raised $230 million in September through an initial public offering (IPO), will acquire Perella Weinberg in a deal that includes a commitment of $125 million from investors such as Fidelity Management and Wellington Management.
The merged entity will list on the Nasdaq under the symbol ‘PWP’, the companies said in a statement. The deal is expected to close in the first half of 2021, pending approvals.
Perella Weinberg to go public via US$975-million deal with Betsy Cohen s SPAC Toggle share menu
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REUTERS: Boutique investment bank Perella Weinberg Partners on Wednesday agreed to go public through a merger with a blank-check firm, or a special purpose acquisition company (SPAC), backed by banking entrepreneur Betsy Cohen in a deal valued at US$975 million.
Cohen s FinTech Acquisition Corporation IV, which had raised US$230 million in September through an initial public offering (IPO), will acquire Perella Weinberg in a deal that includes a commitment of US$125 million from investors such as Fidelity Management and Wellington Management.