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FUSE Stock: 14 Things to Know About Fusion Acquisition and the MoneyLion SPAC Merger

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William White
·2 min read
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Fusion Acquisition (NYSE:FUSE) stock is on the move Friday after the special purpose acquisition company (SPAC) announced plans to take MoneyLion public.

The letters "M&A" on a wooden table, surrounded by a calculator and other business items. mergers and acquisitions
The letters "M&A" on a wooden table, surrounded by a calculator and other business items. mergers and acquisitions

Source: Shutterstock.com

Here’s everything potential investors in FUSE stock need to know about the SPAC deal with MoneyLion.

  • The deal will have Fusion Acquisition being renamed to MoneyLion.

  • This new company will continue to trade on the New York Stock Exchange.

  • The FUSE stock ticker will likely change as well but a new one hasn’t been announced yet.

  • Fusion Acquisition’s SPAC deal with MoneyLion gives the combined company a $2.4 billion enterprise value and $2.9 billion equity value.

  • It will also provide the company with $526 million in cash to make use of.

  • That includes $350 million of cash held in Fusion Acquisition and an additional $250 million from private investment in public equity (PIPE).

  • The deal is expected to close in the first half of 2021.

  • Fusion Acquisition is led by founder and CEO John James.

  • James also leads BetaSmartz and co-founded Boka Group.

  • MoneLion is a mobile banking and financial membership platform.

  • The company was founded in 2013 and operates out of its headquarters in New York City.

  • It’s worth noting that MoneyLion was initially rumored to go public via a different SPAC merger.

  • These rumors claimed the company was working with GS Acquisition Holdings Corp II (NYSE:GSAH) for its public debut.

  • However, those rumors turned out to be false.

FUSE stock was down 4.5% as of Friday morning.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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