Sunlight Financial to go public via merger with Apollo-backed SPAC: Bloomberg

Sunlight Financial LLC, a provider of loans to homeowners for rooftop solar panels, has agreed to go public through a merger with Spartan Acquisition Corp II, a blank check company backed by Apollo Global Management Inc, reported Bloomberg. The business news outlet noted that the deal gives Sunlight a valuation of about $1.3 billion. As part of the deal, investors including venture capitalist Chamath Palihapitiya, Coatue and funds and accounts managed by BlackRock, agreed to invest $250 million through a private stock purchase at $10 per share.

Source: Bloomberg