8/11/2023 0 Comments Sunlight financial stockOn the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. SPRQ stock was up 29.6% as of Monday morning. So long as there’s no trouble there, the deal will close in the second quarter of 2021.Now it just needs approval from SPRQ stockholders and regulators.The Boards of Directors for both companies have approved the SPAC merger.Shareholders of SPRQ stock will hold a 26% stake in the company and 19% will belong to PIPE investors.ET today after reporting earnings results for the second. This will have current Sunlight Finacial shareholders owning 50% after the merger is complete. Point-of-sale solar financing company Sunlight Financial Holdings ( SUNL -9.24) saw shares plummet more than 30 as of 12:05 p.m.These investors are led by Chamath Palihapitiya, Coatue, with funds managed by BlackRock (NYSE: BLK), Franklin Templeton (NYSE: BEN) and accounts advised by Neuberger Berman Investment Advisers.Prior to the closing of the deal, a collection of investors have committed to a $250 million private investment in public equity (PIPE).The SPAC merger between these two will result in a combined company with an estimated implied pro forma equity value of $1.3 billion. Sunlight Financial (SUNL) Stock Forecast, Price & News 0.37 -0.01 (-1.76) (As of 07:00 PM ET) Compare Today's Range 0.36 0.38 50-Day Range 0.29 0.47 52-Week Range 0.25 4.89 Volume 124,300 shs Average Volume 458,423 shs Market Capitalization 48.67 million P/E Ratio N/A Dividend Yield N/A Price Target 3.Spartan Acquisition II is a blank-check company sponsored by funds managed by an affiliate of Apollo Global Management (NYSE: APO).The company also works with more than 800 solar and home improvement contractors.It has issued more than $3.5 billion in loans in the residential solar market.Sunlight Financial is a company that offers financing to residential customers looking to install solar panels.Here’s everything investors need to know about Sunlight Financial ahead of the SPAC merger.
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