Pivotal Acquisition Corp. Announces $150 Million Backstop Commitment from MGG Investment Group and Stockholder Meeting Date of December 12, 2019
(PVT)
Company Research
Source: Business Wire
MGG Investment Group, LP agrees to provide $150 million backstop pursuant to previously announced forward purchase contract to provide greater deal certaintyCompany announces stockholder meeting date of December 12, 2019 for stockholders to approve KLD transaction NEW YORK & MCLEAN, Va.--(BUSINESS WIRE)--Pivotal Acquisition Corp. (NYSE: PVT) (“Pivotal” or the “Company”) a public investment vehicle, and KLDiscovery (“KLD”), a leading global provider of electronic discovery, information governance and data recovery services, announced today that the Company and KLD have entered into a commitment letter with MGG Investment Group, LP (“MGG”) pursuant to which MGG has committed to invest $150 million in the form of a debenture (the “Debenture”) pursuant to the forward purchase contract entered into by MGG’s affiliate in connection with Pivotal’s initial public offering.Pivotal also announced that the stockholder meeting to approve the proposed transaction between Pivotal and KLD has bee
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