MONTREAL, March 17,
2024 /PRNewswire/ -- Nuvei Corporation (NASDAQ:
NVEI) (TSX: NVEI) (the "Company" or "Nuvei") announces today that
it is aware of recent media reports speculating as to a potential
going-private transaction involving the Company.
While the Company's policy is to not comment on rumours or
speculation, the Company confirms that, in connection with
expressions of interest received by the Company, the board of
directors of the Company formed a special committee of independent
directors (the "Special Committee") to evaluate and consider, in
consultation with the Special Committee's and the Company's
respective financial and legal advisors, such expressions of
interest as well as any other strategic alternatives that may be
available under the circumstances in the best interest of the
Company. The Company further confirms that it is engaged in
discussions with certain third parties in connection with a
potential transaction involving continued significant ownership by
certain of the holders of multiple voting shares, including
Phil Fayer, Nuvei's founder, Chair
and Chief Executive Officer.
The Company cautions readers that it has not entered into any
agreements or understandings to effect a privatization or similar
transaction, and there can be no assurance that any discussions
that have taken place will result in any such agreements or
understandings. The Special Committee is continuing its evaluation
of the proposals received to date and the strategic alternatives
available to the Company, and no decision has been made at this
time whether to pursue a transaction or maintain the status quo.
Given the nature of the process, the Company does not intend on
commenting further unless otherwise required pursuant to applicable
securities laws and regulations.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company
accelerating the business of clients around the world. Nuvei's
modular, flexible and scalable technology allows leading companies
to accept next-gen payments, offer all payout options and benefit
from card issuing, banking, risk and fraud management
services. Connecting businesses to their customers in more than 200
markets, with local acquiring in 50 markets, 150 currencies and 680
alternative payment methods, Nuvei provides the technology and
insights for customers and partners to succeed locally and globally
with one integration.
For more information, visit www.nuvei.com
Forward-Looking Statements
This press release contains "forward-looking information" and
"forward-looking statements" (collectively, "Forward-looking
information") within the meaning of applicable securities laws,
including with respect to the Company's evaluation of the
expressions of interest and proposals received as well as any other
strategic alternatives that may be available under the
circumstances and the possible outcomes thereof. This
forward-looking information is identified by the use of terms and
phrases such as "may", "would", "should", "could", "expect",
"intend", "estimate", "anticipate", "plan", "foresee", "believe",
or "continue", the negative of these terms and similar terminology,
including references to assumptions, although not all
forward-looking information contains these terms and phrases.
Economic and geopolitical uncertainties, including regional
conflicts and wars, including potential impacts of sanctions, may
also heighten the impact of certain factors described herein. In
addition, any statements that refer to expectations, intentions,
projections or other characterizations of future events or
circumstances contain forward-looking information. Statements
containing forward-looking information are not historical facts but
instead represent management's expectations, estimates and
projections regarding future events or circumstances.
Forward-looking information is based on management's beliefs and
assumptions and on information currently available to management.
Although the forward-looking information contained herein is based
upon what we believe are reasonable assumptions, investors are
cautioned against placing undue reliance on this information since
actual results may vary from the forward-looking information.
Forward-looking information involves known and unknown risks and
uncertainties, many of which are beyond our control, that could
cause actual results to differ materially from those that are
disclosed in or implied by such forward-looking information. These
risks and uncertainties include, but are not limited to, the risk
that the strategic review process may not result in a transaction
on suitable terms, or at all, and the other risk factors described
in detail under "Risk Factors" of the Company's annual information
form filed on March 5, 2024.
Consequently, all of the forward-looking information contained
herein is qualified by the foregoing cautionary statements, and
there can be no guarantee that the results or developments that we
anticipate will be realized or, even if substantially realized,
that they will have the expected consequences or effects on our
business, financial condition or results of operation. Unless
otherwise noted or the context otherwise indicates, the
forward-looking information contained herein represents our
expectations as of the date hereof or as of the date it is
otherwise stated to be made, as applicable, and is subject to
change after such date. However, we disclaim any intention or
obligation or undertaking to update or amend such forward-looking
information whether as a result of new information, future events
or otherwise, except as may be required by applicable law.
For further information, please contact:
Investors
Chris Mammone, Head of Investor
Relations
IR@nuvei.com
NVEI-IR
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SOURCE Nuvei