Thompson and Kanika SoodFeb 27, 2022 – 6.32pmZip Co and its bankers had the crystal balls out all weekend, trying to predict this week’s sharemarket moves so they could launch a $200 million capital raising.
It is understood the payments group held talks with a bunch of institutional investors late last week and across the weekend, seeking to line up backers for a $150 million placement and a $50 million share purchase plan.
Zip co-founders Peter Gray and Larry Diamond have been in talks to acquire ASX-listed Sezzle. Louie Douvis
The deal was slated to launch as early as Monday via Bank of America, Jarden Australia and Shaw and Partners’ equities desks, the investors said, although it remained subject to market conditions.
Funds raised would be used to acquire ASX-listed Sezzle and help try to grow the combined business, which would have a bigger presence in the United States.
Goldman Sachs, Ropes & Gray and Squire Patton Boggs advised Sezzle, while Arnold Bloch Leibler and Skadden provided legal counsel to Zip.
Thompson and Kanika SoodFeb 27, 2022 – 6.32pmSaveShareZip Co and...
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