About Monteverde & Associates PC
that has recovered millions of dollars and
is
committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report. Our lawyers have significant FINSERV litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court.
WeissLaw is investigating whether FinServ s board acted in the best interest of FinServ s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Katapult, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to FinServ public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust
Furniture World News By Nic Ledoux on 12/18/2020
Katapult Holding, Inc. (“Katapult”), an e-commerce focused financial technology company, and FinServ Acquisition Corp. (NASDAQ: FSRV) (“FinServ”), a special purpose acquisition company, announced that they have entered into a definitive merger agreement. Upon closing of the transaction, the combined company (the Company ) will operate as Katapult and plans to trade on Nasdaq under the new symbol “KPLT”. The transaction reflects an implied pro forma combined enterprise value for the Company of approximately $1 billion.
Katapult is a leading provider of e-commerce point-of-sale (“POS”) purchase options for nonprime US consumers. Katapult’s fully digital, next generation technology platform provides consumers with a flexible lease purchase option to enable them to obtain essential durable goods from Katapult’s network of top tier e-commerce retailers. K
Search
Fintech Firm Katapult to go Public via Planned Merger with SPAC FinServ, Deal Values Company at $1 Billion
Fintech firm
Katapult is planning to go public through a merger with SPAC FinServ. The transaction would value the firm at approximately $1 billion.
According to a release, Katapult Holding Inc. is preparing for an IPO after the digital commerce Fintech revealed on December 18, 2020, that it made an agreement to merge with special purpose acquisition company or SPAC (or “blank-check” company) FinServ Acquisition Corp. (NASDAQ:FSRV).
The deal implies an enterprise value for the combined firm of around $1 billion. The deal reportedly includes a $150 million private investment in public equity (PIPE) from investors that include Tiger Global Management and Neuberger Berman Funds. After the deal has been finalized (around H1 2021), the company will operate as Katapult and the stock may trade on the Nasdaq under the KPLT ticker symbol.
Share:
The SPACs Attack show airs weekdays on Benzinga’s YouTube channel at 11 a.m. ET. Here is a recap of Friday’s show.
Lancadia Vote: The top story was the SPAC merger vote for
Lancadia Holdings II (NASDAQ: LCA) that took place Friday, however, not enough shareholders participated in the vote. The company has set Dec. 29 as the new vote date.
New SPAC Deal: On Friday,
Finserv Acquisition Corp (NASDAQ: FSRV) announced a SPAC deal to bring Katapult public. Finserv Acquisition shareholders will own 25% of the new company. Shares will trade as KPLT if the merger is approved.
Katapult is an e-commerce focused point-of-sale platform that offers flexible lease purchase options for consumers. This is beneficial to consumers and offers upfront funding to the merchants.