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Foley Trasimene Acquisition Corp. (NYSE: WPF, WPF WS) announced stockholder approval for its business combination with Alight Solutions during a special meeting. The merger is expected to deliver at least $2.68 billion in capital, allowing Alight to pursue strategic investments and substantially reduce debt. The business combination represents the second largest equity raise in a SPAC transaction recently. The transaction's completion is slated for July 2, 2021, with Alight, Inc.'s Class A common stock expected to begin trading under the symbol 'ALIT' on July 6, 2021.
Foley Trasimene Acquisition Corp. (NYSE: WPF, WPF.WS) announced a special meeting on June 30, 2021, to approve its business combination with Alight Solutions. This follows the SEC's declaration of effectiveness for its Registration Statement on June 3, 2021. If approved, the merger will conclude soon after the meeting, with Alight expected to trade under ticker symbols 'ALIT' and 'ALIT.WS'. Foley Trasimene aims to enhance employer-employee engagement through Alight's platform, indicating a strategic shift in services offered.
Alight Solutions and Foley Trasimene Acquisition Corp. have announced a definitive business combination agreement, with Alight set to operate as a public entity under the symbol ALIT. The transaction values Alight at an implied pro-forma enterprise value of approximately $7.3 billion. Alight provides integrated digital human capital and business solutions, serving over 30 million people, including significant clients from Fortune 100 and 500 companies. The merger aims to enhance revenue growth, margin expansion, and employee engagement through better integration of health, wealth, and wellbeing.
