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The Board of Directors of both Gen and MoneyLion have unanimously approved the proposed acquisition of MoneyLion by Gen for $82.00 per share in cash payable at closing, representing a cash value of approximately $1b. In addition, for each share owned, MoneyLion shareholders will receive at closing one contingent value right ("CVR") that entitles the holder to a contingent payment of $23.00 in the form of shares of Gen common stock.
"MoneyLion has built a mission-driven platform that empowers people to take control of their financial futures with confidence," said Dee Choubey, Co-Founder and CEO of MoneyLion. "Joining Gen accelerates our vision by leveraging their global reach, trusted brands, and powerful ecosystem. We'll deliver MoneyLion's leading personal financial management tools and embedded financial marketplaces to Gen's users while bringing Gen's strong identity, trust and cybersecurity solutions to our customers. Together, we'll create unmatched consumer value, combining innovative fintech products and experiences with Gen's trusted network to empower smarter financial decisions and secure people's digital and financial lives."
