Unifund to become public through Everest Consolidator combination

Everest Consolidator Acquisition (MNTN) and Everest Consolidated Sponsor have entered into a definitive business combination agreement with Unifund Financial Technologies, a group of data science and analytics companies operating within the consumer debt servicing industry. Upon closing of the transaction, the combined company will adopt the name Unifund Financial Technologies and is expected to be listed on Nasdaq under the ticker symbol (UFND). Based on current projections, the pro forma enterprise value of the combined company is estimated to be approximately $232M. This transaction is expected to be supported by a 1.5M share bonus pool. The bonus share pool is expected to be funded via founder shares held by Everest Consolidator Sponsor, LLC, Everest’s sponsor, as an incentive to retain the targeted $60M in Everest’s trust account. Pro forma for the transaction and based on current projections, the combined company is expected to have approximately $57M of cash. Existing equity holders of Unifund are expected to roll 100% of their equity holdings into the combined company. The transaction is expected to close as early as the fourth quarter.