Nuvei board recommends shareholder vote in favor of going private transaction

Nuvei has filed and is in the process of mailing a letter and management proxy circular to shareholders in connection with its transaction to be taken private by Advent International. The special meeting has been called to consider a special resolution involving the company and Neon Maple Purchaser, a newly-formed entity controlled by Advent which will acquire all the shares of the company that are not held by Philip Fayer, certain investment funds managed by Novacap Management and CDPQ for $34.00 cash per share. The board recommends that shareholders vote for the Arrangement Resolution, after the unanimous recommendation of a special committee of the Board. The consideration represents a premium of approximately 56% to the closing price of the shares on Nasdaq on March 15, and a premium of approximately 48% to the 90-day volume weighted average trading price per Subordinate Voting Share as of such date. The Special Committee concluded that the consideration, which represents an increase of approximately 42% from the consideration initially proposed by Advent, was the highest price that could be obtained from Advent. The cash consideration provides immediate liquidity.