Vivint Smart Home and Mosaic Acquisition Corp. Announce Revised Transaction Terms
MOSAIC ACQUISITION CORP (MOSC)
US:NYSE Investor Relations:
investors.mosaicco.com/presentations.aspx?iid=4097833
Company Research
Source: Business Wire
Mosaic Acquisition Corp.’s Special Meeting of Stockholders to be Adjourned Until January 14, 2020 PROVO, Utah & NEW YORK--(BUSINESS WIRE)--Vivint Smart Home, Inc. (“Vivint”) and Mosaic Acquisition Corp. (NYSE: MOSC; “Mosaic”) today announced that they have entered into an amendment to their definitive agreement to merge Vivint with a subsidiary of Mosaic (the “Amendment”). The Amendment reduces the initial enterprise value of Vivint to approximately $4.1 billion, implying an estimated 2020 Adjusted EBITDA multiple of approximately 7.75x.In connection with the Amendment:Affiliates of Fortress Investment Group LLC (“Fortress”) have agreed to invest up to an additional $50 million in Vivint through an investment in the common stock of Mosaic, through open market purchases or directly from Mosaic, prior to the closing of the merger. This investment is in addition to the previously announced $125 million investment in Vivint by Fortress affiliates and to the pre-existing investments in
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