Pivotal Acquisition Corp. Announces Additional Backstop Commitments
(PVT)
Company Research
Source: Business Wire
Total backstop commitment of $200 million, with Ontario Teachers’ Pension Plan and another large global financial institution to provide $100 million combined investment to go with commitment from MGG Investment Group, LP of $100 million 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 received binding commitments from Ontario Teachers’ Pension Plan (“OTPP”) and another large global financial institution pursuant to which such parties have committed to make an investment of $100 million in the form of one or more debentures (each a “Debenture”) to be issued in connection with the closing of the transaction between the Company and KLD. The Debentures will be of the same series as the debenture to be purchased pursuant to the
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