DLA Piper advises Katapult in merger with FinServ Acquisition Corp.

DLA Piper represented Katapult Holdings, Inc., an e-commerce focused financial technology company, in its merger with special purpose acquisition company FinServ Acquisition Corp. (NASDAQ: FSRV). The combined company now operates as Katapult and trades on Nasdaq under the symbol “KPLT.”

Katapult is a leading provider of e-commerce point-of-sale purchase options for nonprime US consumers. Katapult’s fully digital, next-generation technology platform provides consumers with a flexible lease purchase option to enable them to obtain essential durable goods from Katapult’s network of top tier e-commerce retailers. Katapult’s sophisticated end-to-end technology platform provides both a seamless integration with merchants and exceptional customer experiences.

“It was a pleasure to bring together our extensive SPAC experience and tech sector M&A capabilities to complete this merger agreement for Katapult,” said Jeff Lehrer, co-chair of DLA Piper’s Emerging Growth and Venture Capital practice and the partner who led the firm’s deal team. “This complex transaction will enable Katapult to accelerate its growth and continue providing customers with access to essential products through its flexible lease purchase options.”

“We are very excited to have brought our comprehensive fintech sector knowledge and our leading capital markets and M&A capabilities to bear in this transformative transaction for Katapult,” added Andrew Gilbert, vice chair of DLA Piper’s US Corporate practice.

In addition to Lehrer (Northern Virginia) and Gilbert (Short Hills), the DLA Piper deal team representing Katapult was also led by associate Brian Tribuna (Short Hills).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 11 consecutive years, according to Mergermarket. The firm advises on all elements of complex SPAC and other public M&A transactions, including M&A, tax and securities. DLA Piper has advised on more than 30 SPAC transactions, with an aggregate value of over US$20 billion, in the past three years.

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