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FTAC Olympus Acquisition Corp. (FTOC) Shareholders Approve Payoneer Deal
by Marlena Haddad on 2021-06-23 at 6:45pm

FTAC Olympus Acquisition Corp.  (NASDAQ:FTOC) announced in a press release that its shareholders approved its combination with payments firm Payoneer at a special meeting earlier today.

The press release did not disclose redemptions, however, 97.8% of the votes cast at the meeting voted to approve the business combination. The combined company will be named Payoneer Global Inc., and its shares and warrants will start trading on the Nasdaq under the symbol “PAYO” and “PAYOW”, respectively.

The parties initially inked the $3.3 billion deal on February 3. Payoneer provides a platform for ecommerce-enabling payments, international transfers and digital banking with about 4 million customers and 1,500 employees worldwide.

The company made a rebranding announcement yesterday to reflect its current position in the market saying that, the “new brand color is “universal”, reflecting its promise to be for everyone everywhere.” The new symbol is a circle, “illustrating its journey to becoming a single destination, unified, and connected in more places than anyone else.


ADVISORS

  • Financial Technology Partners is serving as exclusive financial and capital markets advisor to Payoneer.
  • Davis Polk & Wardwell LLP is serving as legal counsel to Payoneer and Paul Hastings is serving as regulatory counsel to Payoneer.
  • PwC is serving as Payoneer’s auditors.
  • Citi and Goldman Sachs & Co. LLC are serving as financial and capital markets advisors to FTOC.
  • Cantor Fitzgerald is serving as capital markets advisor to FTOC.
  • Morgan Lewis is serving as legal counsel to FTOC.
  • Goldman Sachs & Co. LLC and Citi are serving as placement agents on the PIPE.
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