On April 17, 2025, Gen Digital Inc. (GEN, Financial) successfully completed its merger with MoneyLion Inc., a Delaware corporation, as per the terms outlined in the Agreement and Plan of Merger dated December 10, 2024. This strategic move sees MoneyLion becoming a wholly owned subsidiary of Gen Digital, following the merger with Maverick Group Holdings, Inc., a subsidiary of Gen Digital.
Under the merger agreement, each share of MoneyLion's Class A common stock was converted into the right to receive $82.00 in cash and one contingent value right (CVR) issued by Gen Digital. The CVR entitles holders to additional shares of Gen Digital common stock if certain conditions are met within two years of the merger's closing date.
In conjunction with the merger, Gen Digital entered into a Second Amendment to its Amended and Restated Credit Agreement, securing $750 million in Incremental Term B Loans to fund part of the cash consideration for the merger. These loans, maturing on April 16, 2032, offer flexible interest rate options and repayment terms.
This acquisition is expected to bolster Gen Digital's market presence and provide enhanced value to its shareholders. The merger aligns with Gen Digital's strategic objectives of expanding its portfolio and leveraging synergies with MoneyLion's operations.
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