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Olive.com, PayLink Direct Agree to Go Public in Blank-Check Deal - Bloomberg

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Vehicle protection plans provider Olive.com and its affiliate PayLink Direct have agreed to go public in a deal with a blank-check company that will give the combined business a valuation of about $960 million including debt.

The transaction with MDH Acquisition Corp. values the combined business at 6.4 times estimated 2023 earnings before interest, taxes, depreciation and amortization. The deal includes $291 million in proceeds from the trust account of the special purpose acquisition company, or SPAC, plus a $15 million private investment in public equity, also known as a PIPE.

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July 22, 2021 at 03:05AM
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Olive.com, PayLink Direct Agree to Go Public in Blank-Check Deal - Bloomberg
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