Simpson Thacher is representing Vivint Smart Home, Inc. in connection with its definitive merger agreement with Mosaic Acquisition Corp. (NYSE: MOSC), a special purpose acquisition company. Following the merger, Mosaic will be renamed “Vivint Smart Home, Inc.” The merged company is anticipated to have an initial enterprise value of approximately $5.6 billion and an initial market capitalization of approximately $3.1 billion. Blackstone and other existing investors of Vivint are expected to own approximately 78% of the outstanding shares of Vivint immediately following the merger. The transaction is expected to be completed during the fourth quarter of 2019 or the first quarter of 2020, subject to approval by Mosaic and Vivint stockholders and other customary closing conditions.
Vivint is a leading smart home company in North America. Vivint delivers an integrated smart home system with in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24/7 customer care and monitoring. Dedicated to redefining the home experience with intelligent products and services, Vivint serves 1.5 million customers throughout the United States and Canada.
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