Pushpay Holdings Limited Appoints Goldman Sachs to Assist as Financial Advisor
May 23, 2022 at 09:52 pm EDT
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On 26 April 2022, Pushpay Holdings Limited advised that it had received unsolicited, non-binding and conditional expressions of interest or approaches from third parties looking to acquire the Company. The Board appointed Goldman Sachs to assist as financial advisor. Since the April announcement, Pushpay has received additional interest from multiple parties.
Present interests associated with two existing shareholders (BGH Capital and Sixth Street) have advised that they have entered into a co-operation agreement with respect to a potential transaction involving Pushpay. Pushpay notes that the agreement is not a definitive transaction agreement and can be terminated immediately by either party on notice to the other. The terms of the agreement are attached to the substantial product holder notices released by the parties.
Pushpay has not entered an agreement with any party, including either or both of BGH Capital and Sixth Street, to implement a transaction. Pushpay is continuing with a process that is already underway and is in an early stage with multiple parties, to explore the potential for a transaction which is in the best interests of shareholders as a whole. There is no certainty that this process will result in any transaction.
Goldman Sachs BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The Company seeks to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, first lien/last-out unitranche and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments. It may also originate covenant-lite loans, which are loans with fewer financial maintenance covenants than other obligations, or no financial maintenance covenants. In addition to investments in United States middle-market companies, it may invest a portion of its capital in opportunistic investments, such as in large United States companies, foreign companies, stressed or distressed debt, structured products or private equity. It invests in various sectors, including automobiles, chemicals and financial services. Its investment advisor is Goldman Sachs Asset Management, L.P.
GOLDMAN SACHS BDC, INC. 
