News: Z1P Zip To Acquire Of Sezzle

Feb 28 (Reuters) - Sezzle Inc SEZNL.PK :

• ZIP CO LTD - ZIP ANNOUNCES ACQUISITION OF SEZZLE
• ZIP CO LTD - ANNOUNCES ACQUISITION OF SEZZLE,SZL
• ZIP CO LTD - ENTERED INTO A DEFINITIVE AGREEMENT UNDER WHICH ZIP HAS AGREED TO ACQUIRE SEZZLE IN AN ALL-SCRIP TRANSACTION BY WAY OF A STATUTORY MERGER
• ZIP CO LTD - SEZZLE STOCKHOLDERS WILL BE ENTITLED TO RECEIVE 0.98 ZIP ORDINARY SHARES FOR EVERY SHARE OF SEZZLE COMMON STOCK OWNED
• ZIP CO LTD - SEZZLE STOCKHOLDERS WILL BE ENTITLED TO RECEIVE 0.98 ZIP ORDINARY SHARES FOR EVERY SHARE OF SEZZLE COMMON STOCK OWNED
• ZIP CO LTD - CLOSING OF PROPOSED TRANSACTION IS EXPECTED TO OCCUR BY END OF Q3 OF CY2022.
• ZIP CO LTD - TOTAL CONSIDERATION FOR SEZZLE SHARES IN PROPOSED TRANSACTION REPRESENTS AN IMPLIED VALUE OF SEZZLE OF APPROXIMATELY A$491 MILLION
• ZIP CO LTD - ZIP SHAREHOLDERS WILL OWN APPROXIMATELY 78% OF COMBINED GROUP AND SEZZLE STOCKHOLDERS WILL OWN APPROXIMATELY REMAINING 22%
• ZIP CO LTD - PROPOSED TRANSACTION UNANIMOUSLY APPROVED BY BOTH COMPANIES' BOARDS OF DIRECTORS
• ZIP CO SEES POTENTIAL MATERIAL COST SYNERGIES AND OPPORTUNITIES FOR REVENUE AND MARGIN UPLIFT FROM DEAL
• ZIP CO LTD - TARGETED POTENTIAL EBTDA BENEFITS OF UP TO C. A$130 MILLION EBTDA IN FY24, OF WHICH A$60-80 MILLION EBTDA EXPECTED TO BE COST SYNERGIES FROM DEAL
• ZIP CO LTD - PROPOSED TRANSACTION IS EXPECTED TO BE ACCRETIVE TO REVENUE PER SHARE AND EBTDA PER SHARE IN FY24F
• ZIP CO LTD - ZIP EXPECTS TO COMPLETE PROPOSED TRANSACTION BY END OF Q3 OF CY2022