MoneyLion To Become Publicly Traded Following Completion Of Business Combination With Fusion Acquisition Corp.
MoneyLion to Begin Trading Tomorrow on the NYSE Under Ticker Symbol “ML”
MoneyLion Inc. an award-winning, data-driven, digital financial platform, announced that it has closed its previously announced business combination with Fusion Acquisition Corp. The transaction was approved at a special meeting of Fusion’s stockholders on September 21, 2021.
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The combined company will be renamed “MoneyLion Inc.” and will be led by its existing management team. Its shares of Class A common stock and public warrants are expected to begin trading tomorrow, September 23, 2021, on the New York Stock Exchange (“NYSE”) under the ticker symbols “ML” and “ML.WS”, respectively.
“Today marks an incredible milestone for MoneyLion,” said Dee Choubey, co-founder and CEO of MoneyLion. “Taking this step to become a public company provides us with an incredibly strong balance sheet to accelerate our mission of using our digital financial platform to rewire the banking system and help more people take control of their finances and achieve their life goals. We are grateful for the support from our global team, our investors and everyone who helped us reach this moment, and we are excited for the future ahead.”
John James, CEO of Fusion, commented: “The MoneyLion team has positioned the business extremely well for future scale, and this transaction provides them with ample growth capital to expand their already broad suite of products and services, both organically as well as through strategic acquisitions. We look forward to partnering with Dee and his talented management team during their next phase of growth.”
MoneyLion’s new board of directors will be comprised of ten directors, nine of whom are independent directors as defined in the NYSE listing standards and applicable SEC rules. Led by non-executive Chairman John Chrystal, vice chairman of The Bancorp, Inc., MoneyLion’s directors include former Ambassador Dwight Bush Sr., Greg DePetris, fintech and securities industry veteran, Matt Derella, former global vice president of revenue and content partnerships at Twitter, Jeff Gary, CFO of Fusion, Lisa Gersh, co-founder of Oxygen Media, Annette Nazareth, former SEC Commissioner, Michael Paull, president of Disney+ and ESPN+, and Chris Sugden, managing partner, Edison Partners.
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