+ 2.45
+ 0.77%
+ 4.04
+ 1.2%
+ 4.46
+ 1.1%
+ 0.21
+ 0.15%
+ 0.70
+ 0.41%

What's Happening With Foley Trasimene Acquisition II Corp (BFT) Stock Today?

March 29, 2021 10:35 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
What's Happening With Foley Trasimene Acquisition II Corp (BFT) Stock Today?

Foley Trasimene Acquisition II Corp (NYSE:BFT) shares rose 5.7% in regular trading on Monday and jumped another 1.5% in the after-hours. 

What Happened: The merger of the special purpose acquisition company, set up by Vegas Golden Knights owner Bill Foley, with multinational payments company Paysafe is imminent.

Foley told Jim Cramer, host of CNBC’s “Mad Money,” Monday that the merged entity would go public on Tuesday.

“We’ll actually go public tomorrow as we start trading on the New York Stock Exchange,” said Foley.

Foley, who is also the chairman of Fidelity National Financial, said the North American gaming market gives PaySafe an opportunity to emerge as the “preeminent i-gaming leader” in that geography, as per CNBC.

Foley Trasimene shares closed 5.77% higher at $15.39 on Monday and rose another 1.56% in the after-hours session. The company now enjoys a market cap of 2.82 billion.

Why It Matters: Other factors buoying Paysafe include the expansion of its Skrill digital wallet’s cryptocurrency offerings, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) to the United States in partnership with Coinbase. 

Paysafe also announced a partnership with the data cloud services provider Snowflake Inc (NYSE:SNOW) in February. 

The partnership will allow Paysafe to use Snowflake’s technology to better access data insights and to improve customer experiences using artificial intelligence and machine learning data models.

Related Articles

Foley Trasimene Acquisition II SPAC Merger Partner, Paysafe, Earlier Reported Co.'s Skrill Digital Wallet Expanded Crypto Offering To The US Following Partnership With Coinbase

Paysafe, a leading specialized payments platform, today announced that its Skrill digital wallet has expanded its cryptocurrency offering to the U.S. in partnership with Coinbase, the digital currency platform provider. read more

'Fast Money' Picks For December 14

On CNBC's "Fast Money Final Trades," Brian Kelly said he likes Archer-Daniels-Midland Co (NYSE: ADM) as a way to trade ag inflation. read more