Prism Advance Solutions Limited and ROYAL STRATEGIC PARTNERS made an offer to acquire Finablr Limited from Finablr PLC (LSE:FIN) for $1 on October 6, 2020. Prism Advance Solutions Limited entered into an agreement to acquire Finablr Limited from Finablr PLC (LSE:FIN) for $1 on December 17, 2020. Under the terms, the consideration shall include a further amount equal to 25% of any such funds received by Finablr from third parties, up to a maximum of $190 million.

Finablr's board has already approved the offer, and now it will continue negotiating a share purchase agreement with Prism. To seal the deal, the Prism Advance Solutions has to seek approval from its shareholders and regulators as well. Both parties are aiming to close the deal within the next four weeks.

The transaction will provide Finablr working capital and let the group restructure its debts. The proceeds from the transaction will be used to return value to its creditors followed by its shareholders. Stuart Boyd of Kirkland & Ellis LLP acted as legal advisor in the transaction.