Gallatin Point provided a $210M convertible preferred backstop for SPAC merger
Matt Botein · Matt Botein – Flexible Investing and Institutional Challenges (Capital Allocators, EP.88) · Feb 25, 2019 · at 47:10
Matt Botein discusses Gallatin Point Capital's structured financing solution to backstop a reinsurance company SPAC merger.
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“We ended up writing a variable-sized convertible preferred with warrant coverage, and so we were willing to put in up, and we brought in partners up to Two hundred and ten million dollars, but the company could reduce that amount to the extent that the SPAC money arrived”
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