MoneyLion acquisition of Even Financial
We advised MoneyLion on the transaction
Davis Polk is advising MoneyLion Inc. on its acquisition of Even Financial Inc. The transaction provides for total consideration to Even’s equityholders of up to $440 million, using a convertible financing structure that values MoneyLion at its initial public listing price of $10 per share. The transaction is expected to close in the first quarter of 2022, subject to regulatory approvals and other customary closing conditions
MoneyLion is a mobile banking and financial membership platform that empowers people to take control of their finances. Founded in 2014, Even digitally connects and matches consumers with real-time personalized financial product recommendations from banks, insurance and fintech companies on mobile apps, websites and other consumer touchpoints through its marketplace technology.
The Davis Polk corporate team includes partners Lee Hochbaum and Darren M. Schweiger and associates Matthew J. Cowcher and Ryan Olson. Partner Byron B. Rooney and associate Chris Van Buren are providing capital markets advice. Partner Pritesh P. Shah is providing intellectual property advice. Partner William A. Curran and associate Elina Khodorkovsky are providing tax advice. Partner Adam Kaminsky is providing executive compensation advice. Members of the Davis Polk team are based in the New York and Washington DC offices.