Payoneer to go public through acquisition deal
Global payment and commerce-enabling platform Payoneer, Inc. is set to become a publicly-traded company, as it announced its agreement and reorganization plan with special purpose acquisition company FTAC Olympus Acquisition Corp.
Based on current assumptions, the newly created holding company is projected to have an implied estimated enterprise value of approximately $3.3 billion at closing.
Payoneer will continue to manage the Company. “We are incredibly excited about the opportunity ahead and believe that our leading global platform, brand, product suite, and network create significant and sustainable competitive advantages, and that our multi-pronged growth strategy will deliver strong growth for years to come, said Payoneer CEO Scoot Galit.
“We are thrilled to partner with Betsy Cohen and the FTOC team and are confident that we will benefit from their significant industry expertise as we embark on our journey as a public company.”
