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Payoneer Inc. and FTAC Olympus Acquisition Corp. (FTOCU) have finalized a definitive agreement for a reorganization, creating a new holding company named Payoneer Global Inc. The transaction values Payoneer at approximately $3.3 billion, based on a 7.6x multiple of expected 2021 revenue of $432 million. The reorganization aims to enhance Payoneer's ability to offer financial services globally, capitalizing on its established brand and technology. The deal is anticipated to close in the first half of 2021, pending stockholder approval and regulatory review.
FTAC Olympus Acquisition Corp. (NASDAQ:FTOCU) announced that holders of its units may separately trade Class A ordinary shares and warrants starting October 16, 2020. Unseparated units will continue to trade under the symbol FTOCU, while the Class A shares and warrants will trade under FTOC and FTOCW, respectively. This follows the effectiveness of a registration statement declared by the SEC on August 25, 2020. The press release includes forward-looking statements subject to various conditions, with no obligation for the company to update these statements after the date of the release.
FTAC Olympus Acquisition Corp. (NASDAQ: FTOCU) announced the issuance of an additional 474,376 units as part of its initial public offering, bringing total gross proceeds to $754,743,760. The units were sold at $10.00 each, generating an additional $4,743,760 in funds. Each unit comprises one Class A ordinary share and one-third of a warrant, with warrants exercisable at $11.50 per share. The company's units began trading on August 26, 2020, with plans for separate listings for shares and warrants. Citigroup and Cantor Fitzgerald acted as joint book-running managers.
FTAC Olympus Acquisition Corp. (NASDAQ:FTOCU) announced the completion of its initial public offering (IPO) on August 28, 2020. The company raised $750 million by offering 75 million units at $10 each. Each unit comprises one Class A ordinary share and one-third of a warrant, with whole warrants exercisable at $11.50 per share. Trading commenced on August 26, and the IPO was managed by Citigroup Global Markets Inc. and Cantor Fitzgerald & Co. The underwriters received a 45-day option for 11.25 million additional units.
FTAC Olympus Acquisition Corp. (NASDAQ:FTOCU) has priced its initial public offering of 75 million units at $10.00 each, aiming for gross proceeds of $750 million. The units will start trading on NASDAQ on August 26, 2020, and include one Class A ordinary share and one-third of a warrant, which can be exercised for one share at an $11.50 price. The offering is expected to close on or about August 28, 2020. Citigroup and Cantor Fitzgerald are the joint book-running managers, with an option for underwriters to purchase an additional 11.25 million units.
