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Finance of America Equity Capital to go public via Replay Acquisition (NYSE:RPLA.U)

Finance of America Equity Capital, an end-to-end lending and services platform has entered into a definitive business combination agreement with Replay Acquisition (NYSE:RPLA.U) +1% premarket.

Pro forma equity value of the merger is $1.9B and assuming no redemptions by Replay Acquisition’s public shareholders, Management, entities managed by Finance of America’s founder and funds managed by Blackstone Tactical Opportunities will own ~70% of the combined company.

Top-tier institutional to invest $250M fully committed common stock PIPE at $10.00 per share.

Estimated cash proceeds will include the PIPE in addition to Replay Acquisition’s $288M of cash in trust, subject to redemptions.

It is anticipated that the combined company will begin with a minimum of $250 million of cash and cash equivalents.

The transaction is expected to close in the first half of 2021.

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