We are advising MoneyLion on the acquisition

 

Davis Polk is advising MoneyLion Inc. on its acquisition by Gen Digital Inc. for $82.00 per share in cash payable at closing, representing a cash value of approximately $1 billion. In addition, for each share owned, MoneyLion shareholders will receive at closing one contingent value right that entitles the holder to a contingent payment of $23.00 in the form of shares of Gen common stock (issuable based on an assumed share price of $30.48 per Gen share) if Gen’s average volume-weighted average share price reaches at least $37.50 over 30 consecutive trading days from December 10, 2024, until 24 months after close. The transaction is subject to customary closing conditions and is expected to occur in the first half of Gen’s 2026 fiscal year.

MoneyLion is a leader in financial technology powering the next generation of personalized products, content and marketplace technology, with a top consumer finance super app, a premier embedded finance platform for enterprise businesses and a world-class media arm. People take control of their finances with MoneyLion’s innovative financial products and marketplace – including a full-fledged suite of features to save, borrow, spend and invest – seamlessly bringing together the best offers and content from MoneyLion and its 1,200+ enterprise partner network in one experience.

Gen is a global company dedicated to powering digital freedom through its trusted cyber safety brands, Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner. Gen brings award-winning products and services in cybersecurity, online privacy and identity protection to nearly 500 million users in more than 150 countries.

The Davis Polk corporate team includes partners Lee Hochbaum and Darren M. Schweiger, and associates Steven Jaffe and Leah Shatkin. Partner Byron B. Rooney is providing capital markets advice. Partner Adam Kaminsky and associate Mackenzie Bouverat are providing executive compensation advice. Partner William A. Curran is providing tax advice. Partner Hilary Dengel is providing finance advice. Partner Pritesh P. Shah is providing intellectual property advice. Members of the Davis Polk team are based in the New York and Washington DC offices. 

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