![]() Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Mosaic. Simpson Thacher & Bartlett LLP acted as legal counsel to Vivint. LLC and RBC Capital Markets LLC acted as financial advisors and capital markets advisors to Mosaic. Deutsche Bank Securities, Goldman Sachs & Co. Morgan Securities LLC, Evercore and Blackstone Capital Markets served as financial advisors and capital markets advisors to Vivint. We believe the fact that a proven private equity leader like Blackstone not only remained fully invested in Vivint, but also committed additional equity, underscores the unique value creation opportunity that Vivint represents.” As we begin our next chapter, Vivint is well positioned to achieve our goal of redefining the home experience.”ĭavid Maura concluded: “We are thrilled to complete this transaction with Blackstone and thank them for their partnership. “With the new capital from this transaction, we will strengthen our balance sheet and continue to invest to support our mission of helping families live more conveniently and intelligently with Vivint’s smart home platform. “Completing our merger with Mosaic and becoming a publicly traded company is an important milestone for Vivint,” said Todd Pedersen. I have made a significant personal investment in Vivint and I look forward to serving on the Board as Todd, Alex and the team lead the company through its next phase of growth and development.” In contrast to many competitors, Vivint owns its entire data stack, and the company has built a competitive moat by seamlessly merging the digital and physical worlds. “Vivint’s smart home technology empowers the customer to control the entire home from one app, and its offering is delivered with a customer-focused approach to sales, installation and service. “In a market where it is difficult to find value, Vivint presents a unique opportunity to invest in the rapidly expanding home automation space,” said David Maura. David Maura, Executive Chairman and Chief Executive Officer of Mosaic, will join the combined company’s Board of Directors. Vivint’s management team, led by Founder and Chief Executive Officer Todd Pedersen and President Alex Dunn, will continue to lead the combined company. ![]() Existing Vivint investors and new investors supporting the transaction include affiliates of Blackstone and Fortress Investment Group LLC, and anchor investors of Mosaic. The combined company will be named Vivint Smart Home and will trade under the ticker symbol VVNT on the New York Stock Exchange beginning Tuesday, January 21, 2020. Mosaic shareholders approved the transaction at a special meeting earlier today. SPAC mergers ever with an enterprise value of $4.2 billion, including additional equity of $488 million. The transaction is one of the largest U.S. (NYSE: MOSC “Mosaic”), today announced the completion of the previously announced transaction between Vivint and Mosaic, which results in Vivint becoming a publicly traded company. PROVO, Utah & NEW YORK-( BUSINESS WIRE)-Vivint Smart Home, Inc.
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