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Paysafe Aims to Go Public with SPAC Merger

Because Paysafe operates in three distinct sectors of the payment industry, the company did not receive a lot of attention before its private equity owners announced an agreement last month to merge with a special purpose acquisition company (SPAC) called Foley Trasimene Acquisition II. Upon final approval by Foley Trasimene’s stockholders and the Securities and Exchange Commission in the U.S., Paysafe stock will trade on the New York Stock Exchange. Approval is expected by midyear. Current Paysafe owners, private equity firms Blackstone and CVC and existing management, will remain the la...

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January 2021
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