{"id":266,"date":"2024-06-27T21:51:23","date_gmt":"2024-06-27T18:51:23","guid":{"rendered":"https:\/\/dreamcasinonodepositbonuscode.icu\/2024\/06\/27\/paysafe-completes-merger-with-foley-trasimene-begins-trading-on-nyse\/"},"modified":"2024-06-27T21:51:23","modified_gmt":"2024-06-27T18:51:23","slug":"paysafe-completes-merger-with-foley-trasimene-begins-trading-on-nyse","status":"publish","type":"post","link":"https:\/\/dreamcasinonodepositbonuscode.icu\/2024\/06\/27\/paysafe-completes-merger-with-foley-trasimene-begins-trading-on-nyse\/","title":{"rendered":"Paysafe Completes Merger with Foley Trasimene, Begins Trading on NYSE"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/P9W6Flbq4VM\" frameborder=\"0\" allowfullscreen><br>\n<\/iframe><\/p>\n<p>The financial services firm Paysafe Group has finalized its combination with the special purpose acquisition company Foley Trasimene.<\/p>\n<p>The merged entity will operate under the name Paysafe Limited, and its shares will commence trading on the New York Stock Exchange starting today (March 31) under the symbols PSFE and PSFE.WS. William Foley, the founder and chairman of Foley Trasimene, will assume the role of chairman of Paysafe\u2019s newly formed board of directors. Meanwhile, Philip McHugh, Paysafe\u2019s chief executive officer, will continue to lead the company and its management team.<\/p>\n<p>Paysafe previously stated that the merger, initially announced last December, would result in a combined entity valued at $9 billion (\u00a36.5 billion\/\u20ac7.7 billion).<\/p>\n<p>Existing Paysafe investors, including Blackstone, CVC, and its management team, will maintain their significant ownership stakes in the company.<\/p>\n<p>The merger was contingent upon approval from Foley Trasimene shareholders, the U.S. Securities and Exchange Commission, and the fulfillment of other closing requirements.<\/p>\n<p>\u201cThe completion of this transaction and our listing on the New York Stock Exchange represents a significant achievement for Paysafe,\u201d McHugh remarked. \u201cReaching this point today is a testament to the hard work and dedication of our global team.\u201d <\/p>\n<p>The organization expressed delight in commencing the subsequent phase of their expansion as a publicly traded entity.<\/p>\n<p>Fore further stated, \u201cWe are pleased to finalize this amalgamation with Paysafe, and I am personally enthusiastic about continuing to collaborate with Philip, Blackstone, CVC, and the entire board as we persist in propelling our strategy for rapid, lucrative growth.<\/p>\n<p>\u201cPaysafe possesses the essential elements, personnel, and strategy to capitalize on the substantial long-term value prospects within the payments sector, particularly within the iGaming domain, which is experiencing significant expansion in the United States.\u201d<\/p>\n<p>Following the completion of the merger, Paysafe\u2019s newly constituted board of directors has commenced its responsibilities. The board comprises eleven members, including Jim Murren, who served as the CEO of MGM Resorts International from December 2008 to February 2020, and Hilary Stewart-Jones, a British legal professional who has been providing counsel to gaming enterprises and associated businesses since 1995 and has held a position at the law firm Harris Hagan.<\/p>\n<p>William P. Foley II will assume the role of chairman following his company, Cannae Holdings, contributing $500 million to the merger. As part of the agreement, Cannae acquired 54,294,395 shares of Paysafe common stock and 8,134,067 warrants.<\/p>\n<p>\u201cWe are pleased to finalize this amalgamation with Paysafe, and I am personally enthusiastic about continuing to collaborate with Philip, Blackstone, CVC, and the entire board as we persist in propelling our strategy for rapid, lucrative growth,\u201d Foley remarked. <\/p>\n<p>Philip McHugh, Matthew Bryant, Walter McNeely, Eli Nagler, and Peter Rutland will remain on the board of directors.<\/p>\n<p>Remember to subscribe to the iGaming newsletter! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial services firm Paysafe Group has finalized its combination with the special purpose acquisition company Foley Trasimene. The merged entity will operate under the name Paysafe Limited, and its shares will commence trading on the New York Stock Exchange starting today (March 31) under the symbols PSFE and PSFE.WS. William Foley, the founder and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Paysafe &amp; Foley Trasimene Merge: PSFE Starts Trading<\/title>\n<meta name=\"description\" content=\"Paysafe Group and Foley Trasimene combine, creating Paysafe Limited. Shares begin trading on NYSE today under PSFE. 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