Briefing

TSX-listed SPAC NextPoint to acquire U.S.-based Liberty Tax and LoanMe

article-aa

The deal, which is expected to close in the second quarter, gives the combined firm an implied valuation of US$643 million. Katonah, N.Y.-based NextPoint is incorporated in British Columbia, and raised US$200 million in an August 2020 IPO. (The Logic)

Read this article for free

By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.

Already a subscriber?

Talking point: Both tax-preparation franchisor Liberty and credit provider LoanMe target consumers and small businesses; NextPoint said it plans to expand into further financial products and services following this deal. It comes at a time when tax-preparation firms and small-dollar lenders face challenges from cheaper online rivals. NextPoint’s share price on the Toronto Stock Exchange closed down more than two per cent on Monday following the news.