ZIP Co Limited (ASX:Z1P) has completed 100% of the acquisition of QuadPay, a leading high growth BNPL player in the US. The Company also completed the issuance of A$200 million in convertible notes and warrants.
Under the terms of the QuadPay Acquisition, Z1P has:
- Issued 118,776,189 fully paid ordinary shares to the stockholders of QuadPay as the ‘Merger Consideration Shares’.
- Granted 10,480,369 options to subscribe for new fully paid ordinary shares in Z1P to existing employees as well as other option holders in QuadPay.
Acquisition of QuadPay delivers more than US$70 million in monthly transaction volume and above 2 million customers to Z1P.