StockMarketWire.com - EverArc Holdings said that it had entered into an agreement with SK Invictus Holdings to acquire 100% of SK Invictus Intermediate, the parent company of Perimeter Solutions, a manufacturer of firefighting products and lubricant additives, in a reverse takeover valued at about $2 billion.

Upon closing of the transaction, expected to take place in Q4 2021, EverArc will together with Perimeter Solutions will become the subsidiaries of a newly formed Luxembourg company, Perimeter Solutions S.A.

The transaction will be funded from a combination of EverArc's existing cash balances and additional proceeds of $1.15 billion raised from an equity issuance, conditional upon the closing of the transaction, committed loan facilities totaling $600 million, and the issuance of $100 million of preferred equity to SK.

Perimeter Solutions S.A. aims to be listed on the on a U.S.-based stock exchange.

W. Nicholas Howley and William Thorndike, Jr., the Co-chairmen of EverArc, would serve as co-chairmen of the combined business.

The company's current management team, led by Edward Goldberg, would continue to lead Perimeter Solutions post-closing of the transaction.






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