Last week we heard that the $19 billion acquisition of WhatsApp by Facebook had been authorised by the European regulators, this was the ultimate little bit of approval that was want for the deal to undergo.
Now it appears like Facebook has now finalized its acquisition, the completion of the deal was confirmed by a current SEC submitting.
The acquisition was completed by the merger of Merger Sub with and into WhatsApp (the “First Merger”), and upon consummation of the First Merger, Merger Sub ceased to exist and WhatsApp turned an entirely owned subsidiary of Acquirer. The surviving company of the First Merger then merged with and into Acquirer, which can live on as an entirely owned (partially instantly and partially not directly) subsidiary of the Company. At the closing, all excellent shares of WhatsApp capital inventory and choices to buy WhatsApp capital inventory have been cancelled in change for an combination of 177,760,669 shares of the Company’s Class A widespread inventory and roughly $A.fifty nine billion in money to present WhatsApp securityholders. A portion of the mixture consideration is being held in escrow to safe the indemnification obligations of the WhatsApp securityholders. In addition, the Company awarded forty five,941,775 restricted inventory models (“RSUs”) to WhatsApp staff. On the time limit, Jan Koum, WhatsApp’s co-founder and CEO, turned a member of the Company’s Board of Directors (the “Board”).
WhatsApp has grow to be extremely well-liked, the messaging app now has round 600 million lively customers, who ship and acquired billions of messages each month.