Ropes & Gray has advised Sezzle Inc on its acquisition by Zip Co. The transaction is expected to close in the third quarter of 2022. The agreement was announced on 28 February in a press release.
Sezzle stockholders will be entitled to receive 0.98 Zip ordinary shares for every share of Sezzle common stock. The total consideration for Sezzle shares in the proposed transaction represents an implied value of approximately AUD491 million or US$352.6 million.
Minneapolis-based Sezzle is a “buy now, pay later” company that operates a payment platform that increases the purchasing power for millions of consumers by offering interest-free instalment plans at online stores and in-store locations. Zip, based in Sydney, Australia, is also a “buy now, pay later” provider.
