This is what Paysafe does best through our industry-leading payment processing, digital wallet, and online cash solutions. (This deal is unusual because the merger is providing capital for a private equity exit, rather than being used solely to drive growth.). report. Significant exposure to eCommerce with more than 75% of revenue from online and integrated services. Valuation is one. It could easily be worth $25.42 per share, or 64.8% higher than the Jan. 29 price of $15.42. Foley Trasimene Acquisition Corp. II completed its merger with Paysafe on March 30. Completion of the transaction is subject to approval by Foley Trasimene stockholders, the effectiveness of a registration statement to be filed with the Securities and Exchange Commission (the “SEC”) in connection with the transaction, and other customary closing conditions, including the receipt of certain regulatory approvals. Before the intention to merge with Paysafe was revealed, pretty much the only reason to own BFT stock was because you believed in Foley’s business acumen. 1 month ago - InvestorPlace. On Thursday, May 13, 2021, Kentucky Bancshares, Inc. (the "Company") held a special meeting of its shareholders (the "special meeting"), related to the Company's proposed merger with Stock Yards Bancorp, Inc. ("Stock Yards"). Source: Dmitry Demidovich/ShutterStock.com, Foley Trasimene II Stock Still Looks Like a Winning SPAC, “exclusive debit and credit card processor”, 7 High Quality Industrial Stocks to Buy Now, Louis Navellier and the InvestorPlace Research Staff, Don’t Be This Guy and Miss Out on Millions. The iGaming opportunity is almost self-evident at this point, given the rapid rollout of online sports betting in the U.S. Paysafe is the “exclusive debit and credit card processor” for DraftKings (NASDAQ:DKNG) in the U.K. and has relationships with most of the current U.S. sports-betting operators. Paysafe Group (Paysafe) is a leading integrated payments platform. Understanding the past and current SPAC Market. In U.S. iGaming, for instance, PayPal (NASDAQ:PYPL) seems to have an edge. This transaction will allow us to accelerate our growth opportunities across the business, particularly in fast growth sectors such as iGaming where we are the payments partner of choice.”, Martin Brand, a Senior Managing Director at Blackstone, said, “Paysafe has built a leading global e-commerce payment platform under Philip’s leadership. Paysafe Group Holdings Limited, a leading specialized payments platform, and Foley Trasimene Acquisition Corp. II (NYSE: BFT), (BFT WS) (“Foley Trasimene”), a special purpose acquisition company, today announced that they have completed their previously announced merger. SPAC.observer BFT Merger Vote Date according to SEC proxy filings and other Foley Trasimene Acquisition Corp. II - Target: Paysafe Las Vegas, NV and London, UK – December 7, 2020 – Foley Trasimene Acquisition Corp. II (NYSE: BFT, BFT WS) (“Foley Trasimene”), a special purpose acquisition company, and Paysafe Group Holdings Limited (“Paysafe”), a leading integrated payments platform, today announced that they have entered into a definitive agreement and plan of merger. Coinbase Collab The Merger Is Approved. Outside of gaming, meanwhile, the likes of privately held Stripe, PayPal, Adyen (OTCMKTS:ADYEY), and many others are targeting similar vertical markets and similar customers. Paysafe Group Holdings Limited, a leading specialized payments platform, and Foley Trasimene Acquisition Corp. II (NYSE: BFT), (BFT WS) ("Foley Trasimene"), a special purpose acquisition company, today announced that they have completed their previously announced merger. Are Dogecoin Smart Contracts Coming? Paysafe’s competitors’ landscape is well known, sumamrized eloquently by Lincoln. We look forward to seeing Paysafe’s continued success and growth as a public company. 2021-02-26 17:11:37. Proprietary and scalable platform in technology and risk management driving a proven M&A playbook. A special meeting of the Foley Trasimene stockholders has been scheduled for Mar. A Closer Look at BFT Stock. Of the 5,961,004 shares of the Company's common stock issued and … BofA Securities and J.P. Morgan Securities LLC also acted as placement agents on the private offering. 1 month ago - The Motley Fool. Highly differentiated B2B and B2C global network with a powerful suite of digital wallet, eCash and integrated processing solutions. This event cleared the way for the business combination to occur on March 30. Foley Trasimene Acquisition II is primarely in the business of blank checks. The current BFT stock price suggests a pro forma valuation of roughly $14 billion, including debt. March 30, 2021 - 5:03 pm. Share. Before the intention to merge with Paysafe was revealed, pretty much the only reason to own BFT stock was because you believed in Foley’s business acumen. For those who wish to participate, the domestic toll-free access number is 1-877-407-0784 (Conference ID: 13713911), or for international callers, 1-201-689-8560 (Conference ID: 13713911). It faces some risks. Holding 700 warrants. Definitive proxy statement relating to a merger or acquisition. After its merger with Foley Trasimene Acquisition (NYSE:BFT), Paysafe announced its board effective at the closing of the business combination transaction. The good news is that the track record of both Paysafe and Bill Foley suggest that faith is warranted. The following company has records linked to the trading symbol BFT: Foley Trasimene Acquisition II is regulated by the U.S. Security and Exchange Commission and incorporated in the state of Delaware. Back on Jan. 5, 2021, I heartily recommended taking a long position in BFT stock.At that time, the share price was $14.80. Foley’s first SPAC, CF Corp., turned out to be a major success story. Of course, as the industry disclaimer goes, past performance does not guarantee future returns. A telephone replay will be available shortly after the call and can be accessed by dialing 1-844-512-2921 (Replay Pin Number: 13713911), or for international callers, 1-412-317-6671 (Replay Pin Number: 13713911). Don't underestimate the online retail revolution. The transaction is expected to close in the first half of 2021. Credit Suisse is acting as lead financial advisor and capital markets advisor to Paysafe and also acted as lead placement agent on the private offering. FTAC stockholders are entitled to one vote at the Special Meeting for each share of FTAC common stock held of record as of February 17, 2021, the record date for the Special Meeting. As a proportion of total U.S. online sports betting and iGaming volume, Paysafe’s U.S. presence is relatively small. The merger was approved at a special meeting of stockholders of Foley Trasimene on March 25, 2021, and closed today, March 30, 2021. Understanding the SPAC Market. “. Foley Trasimene Acquisition Corp. II Announces Stockholder Approval of Proposed Combination with Paysafe. SPAC.observer BFT Merger Vote Date according to SEC proxy filings and other Foley Trasimene Acquisition Corp. II - Target: Paysafe The Merger Is Approved. Further information is available at www.paysafe.com. The conference call will be accompanied by a detailed investor presentation. Foley’s first SPAC, CF Corp., turned out to be a major success story. Vote “Underperform” if you believe BFT will underperform the S&P 500 over the … FREE Breaking News Alerts from StreetInsider.com! Paysafe-Coinbase Partnership Adds Value to BFT Stock William “Bill” Foley’s shell company, Foley Trasimene Acquisition II (NYSE: BFT ), created a lot of excitement on Wall Street with the announcement that it was planning a special purpose acquisition company (SPAC) merger with integrated payments platform … Wall Street falls for third day on inflation jitters, crypto plunge, Bitcoin (BTC) Price Dips Below $39,000 to Print Fresh 4-Month Lows, Here's the Next Big Target for Sellers, Target (TGT) Up After Beating Q1 Views, Analyst Impressed as Results Above 'Heightened Expectations', Tesla (TSLA) has 'Diamond Hands' Tweets Musk to Send Bitcoin (BTC) Off Lows, SquareSpace (SQSP) IPO Opens at $48, 4% Below Reference Price, Bitcoin on watch as Elon Musk said Tesla (TSLA) has 'diamond hands', Performance Food Group (PFGC) to Acquire Core-Mark (CORE) for $2.5B in Cash and Stock, Tesla's (TSLA) Musk Tweets, "Giga Berlin suppliers please accelerate", Advanced Micro Devices, Inc. (AMD) Announces $4 Billion Share Repurchase Program, Fisker (FSR) Enters Deal with Onto to Deliver 700 Ocean SUVs for Car Subscription Service, Pre-Open Stock Movers 05/19: (LPTH) (RETA) (TTWO) Higher; (MARA) (RIOT) (COIN) Lower (more...), After-Hours Stock Movers 05/18: (LPTH) (PRPL) (TTWO) Higher; (IOVA) (QUIK) (LAD) Lower (more...), Pre-Open Stock Movers 05/18: (AGEN) (ULBI) (AGTI) Higher; (EVFM) (DM) (XONE) Lower (more...), Bright Machines to Become Public Company via Merger with SCVX (SCVX), Aerpio Pharmaceuticals (ARPO) and Aadi Bioscience Enter into a Definitive Merger Agreement, Glacier Bancorp (GBCI) Announces Acquisition of Altabancorp (ALTA) in American Fork, Utah. The great work Lincoln did is not for BFT, it is for Paysafe. Fortunately, in a special stockholders meeting, the shareholders did approve the merger. save. They aimed to close the transaction in the first half of 2021, which implied that the merger date could extend up to June. Following news of the Paysafe SPAC merger, BFT stock was the target of heavy trading activity. [04/30/21] In-talks HCIC … 2021 InvestorPlace Media, LLC. That’s about 28 times its Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) guidance for 2021. Post-merger commentary strengthens the case for BFT stock. But now, the closer I look at the deal I think BFT stock/PSFE stock is worth even more. Management of Foley Trasimene and Paysafe will host an investor call on December 7, 2020, at 9am ET to discuss the proposed transaction. About Foley Trasimene Acquisition Corp. II, Foley Trasimene Acquisition Corp. II is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities. Against the backdrop of those risks, Foley Trasimene is a story that requires some faith in its management and execution. Upon closing of the transaction, the newly combined company (the "Company") will operate as Paysafe and plans to list on the New York Stock Exchange (NYSE) under the symbol PSFE. Watch later. Existing Paysafe equity holders, including Blackstone, CVC and management, will remain the largest investors in the Company. As I argued earlier this year, an investor at basically any point since the mid-1980s could have entrusted her capital to the Foley “empire” and almost certainly have beaten the broad market in the process. In terms of small- and medium-sized businesses, Paysafe has spent time and money improving its onboarding process, according to the presentation. [04/30/21] Merger Complete VSPR Completes Business Combination with HydraFacial. The runway is clear for BFT stock now that the shareholders have approved the Paysafe merger By David Moadel , InvestorPlace Contributor Mar … The merger was approved at a special meeting of stockholders of Foley Trasimene on March 25, 2021, and closed today, March 30, 2021. BFT - PAYSAFE MERGER VOTE - MARCH 25th - GET OUT THERE AND VOTE!!! 2. The transaction reflects an implied pro-forma enterprise value for Paysafe of approximately $9 billion. That company’s merger with Fidelity & Guaranty Life was valued at $2.24 billion. Still, not everyone was convinced that they should own BFT … William “Bill” Foley’s shell company, Foley Trasimene Acquisition II (NYSE:BFT), created a lot of excitement on Wall Street with the announcement that it was planning a special purpose acquisition company (SPAC) merger with integrated payments platform Paysafe. Polygon Price Predictions: Where Will Musk’s Message Take MATIC Next? Vote “Outperform” if you believe BFT will outperform the S&P 500 over the long term. As of right now, the British maker of super cars has not announced a merger with a … Foley has made literally tens of billions of dollars for his shareholders over the past three-plus decades. On May 19, iconic growth investor Louis Navellier will reveal how his powerful quant-based stock system could accelerate your wealth and help fund your retirement. And investing alongside Foley in a SPAC is different than investing alongside him in Fidelity National Information Services or another real company. William “Bill” Foley’s shell company, Foley Trasimene Acquisition II (NYSE: BFT), created a lot of excitement on Wall Street with the announcement that it was planning a special purpose acquisition company (SPAC) merger with integrated payments platform Paysafe. 10-K: Annual Report. The combined company now operates as Paysafe Limited ("Paysafe") and Paysafe’s common shares and warrants will begin trading on the New York Stock Exchange (NYSE) under the ticker symbols “PSFE” and “PSFE.WS” … BFT TV. Still, not everyone was convinced that they should own BFT … share. Paysafe starts trading on NYSE on Wednesday under the ticker PSFE. Foley Trasimene Acquisition Corp. II operates as a blank check company. The merger was approved at a special meeting of stockholders of Foley … Foley Trasimene Acquisition Corp. II (NYSE: BFT, BFT WS) ("Foley Trasimene"), a special purpose acquisition company, announced that at the special meeting of Foley Trasimene stockholders (the "Special Meeting") held today, Foley Trasimene’s stockholders voted in favor of the proposed business combination (the "Business Combination") with Paysafe Group … MARCH 10th - Merger vote MARCH 25th - recently shown on CNBC as one of the “FINAL TRADE “ picks today $BFT 欄 good day!! As I’ve written before, I’m not generally a fan of SPACs (special purpose acquisition companies). Foley Trasimene Acquisition Corp. II (NYSE: BFT, BFT WS) ("Foley Trasimene"), a special purpose acquisition company, announced that at the special meeting of Foley Trasimene stockholders (the "Special Meeting") … Before the intention to merge with Paysafe was revealed, pretty much the only reason to own BFT stock was because you believed in Foley’s business acumen. The merger was approved at a special meeting of stockholders of Foley … Today, more than ever, businesses and consumers need to connect and seamlessly transact via digital commerce. The Merger Is Approved. The merger was approved at a special meeting of stockholders of Foley Trasimene on March 25, 2021, and closed today, March 30, 2021. Paysafe Announces Board of Directors for Post-Merger Public Company. That, in turn, provides built-in customer bases for many APMs (alternative payment methods). Info. Attractive, asset-light financial profile with over 30% EBITDA margins, 80% cash conversions1 and double-digit revenue growth across diversified geographies and verticals. New ticker SKIN is expected to start trading next week. Nasdaq Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more! Paysafe still looks like a bargain before the SPAC merger closes. Foley's BFT/Paysafe merger is an investment opportunity worth buying at least some position. Competition is another concern. The current BFT stock price suggests a pro forma valuation of roughly $14 billion, including debt. At current prices the risk/reward seems to be a no brainer in my view. Information about different stocks and influencers is evaluated by analyzing posts, tweets, comments, likes, retweets, replies and shares on social media platforms. The webcast will start at 12:00 p.m. Eastern Time, on March 25, 2021. Proton Partners is acting as strategic advisor to Paysafe. 25, 2021; transaction is expected to close shortly thereafter subject to Foley Trasimene stockholders approval. The conference call will be accompanied by a detailed investor presentation. And the company is toying with additional offerings, such as expanding its wallet to the B2B world, allowing for instant access to funds via, say, a credit card issued to the firms that are its customers. In the long run, markets are efficient. Still, not everyone was convinced that they should own BFT … A special meeting of the … The BFT and Paysafe merger is expected in the first half of 2021. The question is, what  can go wrong for Foley Trasimene? This allows users to measure the market sentiment, … All three of the company’s offerings have room for growth. So BFT stock still seems like a bet worth making. Paysafe delivers a unique value proposition in large and high-growth markets, such as gaming and e-commerce, enabling the company to generate strong organic revenue growth and margin expansion. Fidelity National Information Services (NYSE:FIS) has been Foley’s big winner, but the likes of Black Knight (NYSE:BKI) and Cannae Holdings (NYSE:CNNE) have also created value. The merger was approved at a special meeting of stockholders of Foley Trasimene on March 25, 2021, and closed today, March 30, 2021. [05/03/21] Merger Meeting ATAC announced the meeting to approve merger with Owl Rock: 05/18/2021. We believe we can further enhance Paysafe’s growth trajectory through accelerated operational transformation and M&A, enabled by our de-levered balance sheet. 2021-02-16 15:22:12. That company’s merger with Fidelity & Guaranty Life was valued at $2.24 billion. William “Bill” Foley’s shell company, Foley Trasimene Acquisition II (NYSE:BFT), created a lot of excitement on Wall Street with the announcement that it was planning a special purpose acquisition company (SPAC) merger with integrated payments platform Paysafe. The merger was approved at a special meeting of stockholders of Foley Trasimene on March 25, 2021, and closed today, March 30, 2021. The company offers payment processing to small- and medium-sized businesses in the U.S., eCash solutions for iGaming providers and other online operators worldwide, as well as a digital wallet that has 3.5 million users at the moment. MarketBeat's community ratings are surveys of what our community members think about Foley Trasimene Acquisition Corp. II and other stocks. Discussion. Philip and the entire management team have positioned Paysafe to be a leading global payments platform. Clear strategy for growth and transformation in partnership and leadership of Bill Foley. Leading integrated payments platform processing nearly $100 billion of payment volume. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Paysafe is a leading integrated payments platform, with a two-sided consumer and merchant network, whose core purpose is to enable businesses and consumers around the world to connect and transact seamlessly through payment processing, digital wallet, and online cash solutions. March 25, 2021 - 4:10 pm. Morgan Stanley also acted as financial advisor to Paysafe. RBC Capital Markets LLC., BofA Securities and J.P. Morgan are acting as financial advisors to Foley Trasimene. Upon closing of the transaction the newly combined company will operate as Paysafe and plans to list on the New York Stock Exchange (NYSE) under the symbol PSFE. But I am a fan of Foley Trasimene Acquisition Corp. II (NYSE:BFT) stock. Foley Trasimene Acquisition Corp. II (NYSE: BFT, BFT WS) (“Foley Trasimene”), a special purpose acquisition company, and Paysafe Group Holdings Limited (“Paysafe”), a leading integrated payments platform, today announced that they have entered into a definitive agreement and plan of merger. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. That company’s merger with Fidelity & Guaranty Life … The combined company now operates as Paysafe Limited ("Paysafe") and Paysafe’s common shares and warrants will begin trading on the New York Stock Exchange (NYSE) under the ticker symbols “PSFE” and “PSFE.WS” … See Calendar [05/03/21] DA MAAC entered into a definitive agreement with Roviant Sciences. The Special Meeting will be a completely virtual meeting of stockholders, which will be … We are looking forward to remaining significant shareholders alongside Foley Trasimene for the next stage of Paysafe’s growth.”, Stuart C. Harvey, Jr, Chairman of the Paysafe Board of Directors, stated, “Paysafe’s blend of scale, vertical expertise, and broad suite of payment capabilities makes it incredibly well-positioned to continue its strong growth trajectory. The merger was approved at a special meeting of stockholders of Foley Trasimene on March 25, 2021, and closed today, March 30, 2021. Highly experienced management team led by Philip McHugh, CEO of Paysafe, who will continue leading the newly combined company. Even Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A,NYSE:BRK.B) has lagged in the post-2009 bull market. Posted by 4 days ago. Yet the customers cited in this month’s presentation, outside of DraftKings, include mostly tiny operators like BetWildwood and PlayUp. Special purpose acquisition company (SPAC) Foley Trasimene Acquisition Corp II (NYSE: BFT) plans to reverse merge with PaySafe, a global integrated payments platform and digital wallet in the first-half of 2021. The cash component of the consideration will be funded by Foley Trasimene’s cash in trust, $150.0 million in proceeds from the forward purchase agreement with Cannae Holdings, Inc., as well as a $2.0 billion private placement from various institutional and private investors. On the date of publication, Vince Martin did not have (either directly or indirectly) any positions in the securities mentioned in this article. William P. Foley, II, Founder and Chairman of Foley Trasimene, stated, “Upon the formation and initial listing of Foley Trasimene, our team initiated a diligent and thorough search process to source an appropriate partner, with the goal to announce a partnership prior to year end. Significant growth opportunities in a massive addressable market, with expertise in highest value verticals. The BFT is a SPAC. Information about different stocks and influencers is evaluated by analyzing posts, tweets, comments, likes, retweets, replies and shares on social media platforms. Copyright © 2021 InvestorPlace Media, LLC. The McLaren SPAC merger news is a little bit different. Paysafe supports trading in Bitcoin (CCC:BTC-USD) and 26 other cryptocurrencies, as well as foreign currencies and even some stocks. With over 20 years of online payment experience, an annualized transactional volume of over US $98 billion in 2019, and approximately 3,000 employees located in 12+ global locations, Paysafe connects businesses and consumers across 70 payment types in over 40 currencies around the world. SC 13G: Ownership Acquisition Statement. Could These E-Commerce Stocks Be the Next Shopify? And while Paysafe is talking up its size, it’s measuring that size in terms of total customers. Article printed from InvestorPlace Media, https://investorplace.com/2021/03/bft-stock-still-looks-like-spac-winner/. The $2.0 billion private placement includes a $500 million investment from Fidelity National Title Insurance Co., Chicago Title Insurance Co., Commonwealth Land Title Insurance Co. and Fidelity & Guaranty Life Insurance Co. and a $350 million investment from Cannae Holdings, Inc. Other institutional investors include Third Point LLC, Suvretta Capital Management, Hedosophia and the Federated Hermes Kaufmann Funds. The merger was approved at a special meeting of stockholders of Foley Trasimene on March 25, 2021, and closed today, March 30, 2021. Foley’s first SPAC, CF Corp., turned out to be a major success story. That isn’t a huge multiple for the payments’ sector, but it’s not cheap, either. BFT SPAC and Paysafe announced their merger agreement on December 7, 2020. LAS VEGAS--(BUSINESS WIRE)--Mar 25, 2021--Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae”) today announced that stockholders of Foley Trasimene Acquisition Corp. II (NYSE: BFT, BFT WS) (“Foley Trasimene”), a special purpose acquisition company, at the special meeting of Foley Trasimene stockholders (the “Special Meeting… In the short run, there are massive dislocations in markets caused by structural … And with FTAC II little changed versus its December highs, its valuation looks reasonable enough to take a chance on. T he Foley Trasimene Acquisition II Corp [BFT] special purpose acquisition company (SPAC) announced its first merger in December, with the fintech payments firm Paysafe.. SPACs — so-called “blank cheque” shell companies which raise funds through an IPO to take a private company public — have become an increasingly popular method of avoiding … The lack of federal legalization creates speed bumps for consumers looking to fund their bets using debit or credit cards on the Visa (NYSE:V) and Mastercard (NYSE:MA) networks. 27 comments. Copyright © 2021-02-25 19:47:15. Item 5.07. SC 13G: Ownership Acquisition … Other stocks mentioned: BZUN, CPNG. After the … Copy link. The combined company now operates as Paysafe Limited ("Paysafe") and Paysafe’s common shares and warrants will begin trading on the New York Stock Exchange (NYSE) under the ticker symbols “PSFE” and “PSFE.WS” … It's just getting started. r/SPAC's 'BFT' Gang Escorts 'PaySafe' To Merger Meeting :) Meme (Weekend Only) 421. Stocksmeter.ai provides analysis of social media conversations for BFT stocks. Simpson Thacher & Bartlett LLP is acting as legal counsel to Paysafe. On December 7, 2020, Paysafe and Foley Trasimene Acquisition Corp. II (NYSE: BFT) announced that they entered into a definitive merger agreement and plan of merger. The merger was approved at a special meeting … Merger Vote! What makes Paysafe attractive is its diversification. This press release includes certain non-GAAP financial measures that are not prepared in accordance with generally accepted accounting principles in the Unit In addition, Foley Trasimene will file the investor presentation with the SEC as an exhibit to a Current Report on Form 8-K prior to the call, which will be available on the SEC’s website at www.sec.gov. This has resulted in more than 51 million … This investment, the largest ever common stock PIPE raised by a special-purpose acquisition company, de-levers the company and positions Paysafe for organic and inorganic future growth.