MONTREAL, June 20,
2024 /CNW/ -- Nuvei Corporation ("Nuvei" or the
"Company") (Nasdaq: NVEI)(TSX: NVEI), the Canadian fintech
company, announced today that the Company has obtained a final
order from the Superior Court of Québec (Commercial Division)
approving the previously-announced plan of arrangement under
section 192 of the Canada Business Corporations Act
(the "Arrangement") involving the Company and Neon Maple
Purchaser Inc., a newly-formed entity controlled by Advent
International, L.P. This final court approval follows the
shareholder approval that was obtained at the special meeting of
Nuvei's shareholders held on Tuesday, June
18, 2024.
The Arrangement remains subject to the satisfaction or waiver of
certain other closing conditions customary in a transaction of this
nature, including the receipt of key regulatory approvals. Assuming
that these remaining conditions to closing are satisfied, the
Arrangement is expected to be completed in late 2024 or in the
first quarter of 2025.
Further details regarding the Arrangement are provided in the
management information circular of the Company dated May 13, 2024, mailed to Nuvei shareholders in
connection with the Arrangement, a copy of which is available under
the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at
www.sec.gov.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company
accelerating the business of clients around the world. Nuvei's
modular, flexible and scalable technology allows leading companies
to accept next-gen payments, offer all payout options and benefit
from card issuing, banking, risk and fraud management
services. Connecting businesses to their customers in more than 200
markets, with local acquiring in 50 markets, 150 currencies and 700
alternative payment methods, Nuvei provides the technology and
insights for customers and partners to succeed locally and globally
with one integration.
Forward-Looking Statements
This press release contains "forward-looking information" and
"forward-looking statements" (collectively, "Forward-looking
information") within the meaning of applicable securities laws.
This forward-looking information is identified by the use of terms
and phrases such as "may", "would", "should", "could", "expect",
"intend", "estimate", "anticipate", "plan", "foresee", "believe",
or "continue", the negative of these terms and similar terminology,
including references to assumptions, although not all
forward-looking information contains these terms and phrases.
Particularly, statements regarding the Arrangement, including the
proposed timing and various steps contemplated in respect of the
Arrangement are forward-looking information.
In addition, any statements that refer to expectations,
intentions, projections or other characterizations of future events
or circumstances contain forward-looking information. Statements
containing forward-looking information are not historical facts but
instead represent management's expectations, estimates and
projections regarding future events or circumstances.
Forward-looking information is based on management's beliefs and
assumptions and on information currently available to management,
and although the forward-looking information contained herein is
based upon what we believe are reasonable assumptions, investors
are cautioned against placing undue reliance on this information
since actual results may vary from the forward-looking
information.
Forward-looking information involves known and unknown risks and
uncertainties, many of which are beyond our control, that could
cause actual results to differ materially from those that are
disclosed in or implied by such forward-looking information. These
risks and uncertainties include, but are not limited to, the risk
factors described in greater detail under the heading "Risk
Factors" in the Company's annual information form filed on
March 5, 2024, and under the heading
"Risk Factors" in the Company's management's discussion and
analysis for the three months ended March
31, 2024. These risks and uncertainties further include (but
are not limited to) as concerns the Arrangement, the failure of the
parties to obtain the necessary regulatory approvals or to
otherwise satisfy the conditions to the completion of the
Arrangement, failure of the parties to obtain such approvals or
satisfy such conditions in a timely manner, significant transaction
costs or unknown liabilities, failure to realize the expected
benefits of the Arrangement, and general economic conditions.
Failure to obtain the necessary regulatory approvals, or the
failure of the parties to otherwise satisfy the conditions to the
completion of the Arrangement or to complete the Arrangement, may
result in the Arrangement not being completed on the proposed
terms, or at all. In addition, if the Arrangement is not completed,
and the Company continues as a publicly-traded entity, there are
risks that the announcement of the Arrangement and the dedication
of substantial resources of the Company to the completion of the
Arrangement could have an impact on its business and strategic
relationships (including with future and prospective employees,
customers, suppliers and partners), operating results and
activities in general, and could have a material adverse effect on
its current and future operations, financial condition and
prospects. Furthermore, in certain circumstances, the Company may
be required to pay a termination fee pursuant to the terms of the
Arrangement Agreement which could have a material adverse effect on
its financial position and results of operations and its ability to
fund growth prospects and current operations.
Consequently, all of the forward-looking information contained
herein is qualified by the foregoing cautionary statements, and
there can be no guarantee that the results or developments that we
anticipate will be realized or, even if substantially realized,
that they will have the expected consequences or effects on our
business, financial condition or results of operation. Unless
otherwise noted or the context otherwise indicates, the
forward-looking information contained herein represents our
expectations as of the date hereof or as of the date it is
otherwise stated to be made, as applicable, and is subject to
change after such date. However, we disclaim any intention or
obligation or undertaking to update or amend such forward-looking
information whether as a result of new information, future events
or otherwise, except as may be required by applicable law.
For further information please contact:
Investors
Kingsdale Advisors
contactus@kingsdaleadvisors.com
Chris Mammone, Head of Investor
Relations
IR@nuvei.com
Media
Joel Shaffer
FGS Longview
Joel.shaffer@fgslongview.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/nuvei-obtains-final-court-approval-for-going-private-transaction-with-advent-302178228.html
SOURCE Nuvei