VPC Specialty Lending Invest. PLC VPC Impact Acquisition Holdings Sponsor, LLC (2750Q)
26 Octubre 2021 - 3:25AM
UK Regulatory
TIDMVSL
RNS Number : 2750Q
VPC Specialty Lending Invest. PLC
26 October 2021
VPC Specialty Lending Investments PLC (the "Company")
Update Regarding its Holding in VPC Impact Acquisition Holdings
Sponsor, LLC
The Company notes that on 15 October 2021, Bakkt Holdings, LLC,
the digital asset marketplace founded in 2018, announced that it
completed the previously announced business combination with VPC
Impact Acquisition Holdings, a special purpose acquisition company
sponsored by VPC Impact Acquisition Holdings Sponsor, LLC ("VPC
Sponsor"), an affiliate of Victory Park Capital ("VPC"). The
combined company now operates as Bakkt Holdings, Inc. ("Bakkt, "
the "Company"), and Bakkt's shares of Class A common stock and
warrants began trading on the New York Stock Exchange under the
ticker symbols "BKKT" and "BKKT WS", respectively, on 18 October
2021. Through VPC Sponsor, VPC Specialty Lending Investments PLC
owns 2,220,530 Class B Shares and 2,697,467 private placement
warrants, with a cost basis of US$2,713,994. For more information
on the business combination, please find the press release here
.
Upon the consummation of the transaction, the Company's Class B
Shares were automatically converted into one share of Class A
Common Stock of Bakkt. As disclosed in the June newsletter, these
shares are valued at the closing price as of the valuation date,
with a discount applied through the post-close lock up period. As
at 31 August 2021, Company valued the common stock at
US$15,528,166, a 30% discount to the closing price of US$9.99. The
Company's Class A Common Stock shall be subject to a one-year
post-closing lockup unless otherwise accelerated based on average
trading performance measured six months post-closing.
The private placement warrants, which differ from the publicly
listed warrants, maintain a US$11.50 per share strike price,
provide for cashless exercise and expire five years after closing
of the transaction. The private placement warrants continued to be
valued using an option pricing model. As at 31 August 2021, the
Company valued the private placement warrants at US$5,902,096.
Enquiries
For further information, please contact:
Victory Park Capital via Jefferies or Winterflood
Brendan Carroll (Senior Partner and (below)
Co-Founder) info@vpcspecialtylending.com
Gordon Watson (Partner)
Jefferies International Limited Tel: +44 20 7029 8000
Stuart Klein
Neil Winward
Gaudi le Roux
Winterflood Securities Limited Tel: +44 20 3100 0000
Neil Morgan
Chris Mills
Link Company Matters Limited (Company Tel: +44 20 7954 9567
Secretary) Email: VPC@linkgroup.co.uk
About VPC Specialty Lending Investments PLC
VPC Specialty Lending Investments PLC (Company No. 9385218) is a
UK listed investment trust focused on asset-backed lending to
emerging and established businesses with the goal of building
long-term, sustainable income generation. The Company identifies
investment opportunities across various industries and geographies
to offer shareholders access to a diversified portfolio of
opportunistic credit investments originated by non-bank lenders
with a focus on the rapidly developing technology-enabled lending
sector.
Further information on VPC Specialty Lending Investments PLC is
available at : http://vpcspecialtylending.com .
LEI: 549300UPEXC5DQB81P34
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