AACQU 1C + 1/3 W
$750mm
Trust $10.00
Warrants $11.50. Call $18 Pipe protect 9.20. Call by scedule > $10
24 months
Credit Suisse Goldman Sachs & Co. LLC
Our Co-Founder, Charles Drucker, has a long history of leadership and value creation in the public markets, including during his tenure as the Chief Executive Officer and Executive Chairman of Worldpay, Inc. (“Worldpay”), a leading global payments company, and its predecessor company, Vantiv, Inc. (“Vantiv”). Mr. Drucker became the Chief Executive Officer of Vantiv in June 2009 after serving as Vantiv’s President since June 2004. He led Vantiv through its initial carve-out from Fifth Third Bank and its subsequent initial public offering in March 2012. Between Vantiv’s initial public offering in 2012 and its acquisition in 2019 by Fidelity National Information Services, Inc. (“FIS”; NYSE: FIS), he presided over a 690% appreciation in Worldpay’s share price, relative to an approximately 115% increase in the S&P 500 over the same period. At the time of FIS’s acquisition, the value appreciation for “old common stock” of Vantiv issued on June 30, 2009 as part of its carve-out from Fifth Third Bank was over 1,990%. Under Mr. Drucker’s stewardship, Worldpay / Vantiv’s net revenue grew from $866 million in 2011 to $3,925 million in 2018, while Adjusted EBITDA grew from $439 million to $1,895 million during the same period. At the time of its acquisition by FIS, Worldpay was the top merchant acquirer in the U.S. based on the number of purchase transactions according to The Nilson Report and was responsible for processing over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. Based on The Nilson Report, Worldpay (and its predecessor company Vantiv) increased its market share in US purchase transaction volume from 14% in 2011 to 25% in 2018 during Mr. Drucker’s stewardship. Since the merger, Mr. Drucker has served as Vice Chairman of FIS. During his tenure at Worldpay and Vantiv, Mr. Drucker oversaw several landmark transactions, including:2019 merger with FIS to create a global leader in financial and payments technology with approximately $12 billion in combined revenue and $5 billion in combined EBITDA at announcement;
Our other Co-Founder, Boon Sim, has a multi-decade career providing strategic advisory and investment services to boards and senior executives of multi-national Fortune 500 corporations, governments and institutional investors. Mr. Sim is the Founder and Managing Partner of Artius Capital Partners LLC (“Artius Capital”), an investment firm focused on making private equity and growth investments in technology enabled businesses including software and financial technology (“fintech”) businesses. Prior to founding Artius Capital in September 2017, Mr. Sim served in a variety of senior executive roles at Temasek International (Private) Limited (“Temasek International”), a financial investment company privately-owned by the Government of Singapore with approximately $230 billion of assets under management. At Temasek International, he served as President, Americas, Head of the Markets, Life Science and Credit Groups from June 2012 to April 2016. From May 2016 to December 2017, Mr. Sim served as a Temasek Advisory Senior Director. Mr. Sim also served as Deputy Chairman of the Management, Investment, and Strategic Policy and Risk Committees at Temasek International and had direct day-to-day responsibility for origination and investment of private equity and growth investments, public investments and buy-outs in North America.
Prior to joining Temasek International, Mr. Sim was a senior executive with global leadership responsibilities at Credit Suisse, an investment banking, securities and investment management firm based in New York, serving as the Global Head of Mergers & Acquisitions. During his 20-year career at Credit Suisse and The First Boston Corporation, a predecessor company of Credit Suisse, Mr. Sim held various other management positions including Head of M&A Americas and Co-head of the Technology Group based in New York. He also served as a Director of Worldpay, and its predecessor company Vantiv, from 2015 until its merger with FIS in July 2019.
Business Strategy
Our business strategy is to identify and complete our initial business combination with a technology company that complements the experience of our Co-Founders and can benefit from their operational expertise and deal sourcing network. We believe there are multiple themes in technology that are driving large capital investment in the sector, including,