SC 13E3/A 1 d844175dsc13e3a.htm SC 13E3/A SC 13E3/A

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13E-3

(Amendment No. 1)

RULE 13E-3 TRANSACTION STATEMENT UNDER SECTION 13(e)

OF THE SECURITIES EXCHANGE ACT OF 1934

NUVEI CORPORATION

 

 

NUVEI CORPORATION

(Name of the Issuer)

 

 

Nuvei Corporation

Neon Maple Purchaser Inc.

Neon Maple Holdings Inc.

Neon Maple Midco Inc.

Neon Maple Parent Inc.

Advent International, L.P.

Advent International GPE X Limited Partnership

AI Maple Aggregator, L.P.

AI Maple Holdings, L.P.

AI Maple Holdings GP Limited

Novacap Management Inc.

Caisse de dépôt et placement du Québec

Philip Fayer

Whiskey Papa Fox Inc.

(Name of Person(s) Filing Statement)

Subordinate Voting Shares, no par value

(Title of Class of Securities)

67079A102

(CUSIP Number of Class of Securities)

 

 

 

Lindsay Matthews

Nuvei Corporation

1100 René-Lévesque Boulevard West, Suite 900

Montréal, Québec H3B 4N4

(514) 313-1190

 

Neon Maple Purchaser Inc.

Neon Maple Holdings Inc.

Neon Maple Midco Inc.

Neon Maple Parent Inc.

Advent International, L.P.

Advent International GPE X Limited Partnership

AI Maple Aggregator, L.P.

AI Maple Holdings, L.P.

AI Maple Holdings GP Limited

Prudential Tower, 800 Boylston Street

Boston, MA 02199-8069

Attention: Amanda McGrady Morrison

(617) 951-9400

(Name, address, and telephone numbers of persons authorized to receive notices and communications on behalf of the persons filing statement)

 

 

Copies to:

 

Adam Givertz

Ian Hazlett

Paul, Weiss, Rifkind, Wharton &

Garrison LLP

1285 Avenue of the Americas

New York, NY 10019

(212) 373-3000

 

Evan Rosen

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, NY 10017

(212) 450-4000

 

Willard S. Boothby, P.C.

Frances D. Dales

Kirkland & Ellis LLP

601 Lexington Avenue

New York, NY 10022

(212) 446-4800

 

 

This statement is filed in connection with (check the appropriate box):

 

The filing of solicitation materials or an information statement subject to Regulation 14A, Regulation 14C or Rule 13e-3(c) under the Securities Exchange Act of 1934.

 

The filing of a registration statement under the Securities Act of 1933.

 

    A tender offer.

 

   None of the above.

Check the following box if the soliciting materials or information statement referred to in checking box (a) are preliminary copies: ☐

Check the following box if the filing is a final amendment reporting the results of the transaction: ☐

NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THIS TRANSACTION, PASSED UPON THE MERITS OR FAIRNESS OF THIS TRANSACTION, OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS TRANSACTION STATEMENT ON SCHEDULE 13E-3. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

 

 


INFORMATION REQUIRED BY SCHEDULE 13E-3

INTRODUCTION

This Amendment No. 1 to Schedule 13E-3 (together with the exhibits attached hereto (the “Amended Transaction Statement”)), which amends and supplements the Rule 13e-3 Transaction Statement on Schedule 13E-3 filed with the Securities and Exchange Commission (the “SEC”) on May 14, 2024 (the “Initial Schedule 13E-3”), is being filed with the SEC pursuant to Section 13(e) of the Securities Exchange Act of 1934, as amended (together with the rules and regulations promulgated thereunder, the “Exchange Act”), jointly by the following persons (each, a “Filing Person,” and collectively, the “Filing Persons”): (i) Nuvei Corporation, a corporation existing under the federal laws of Canada (“Nuvei”) and the issuer of the subordinate voting shares (the “Subordinate Voting Shares”) that is the subject of the Rule 13e-3 transaction, (ii) Neon Maple Purchaser Inc. (“Purchaser”), a corporation existing under the federal laws of Canada, (iii) Neon Maple Holdings Inc., an Ontario corporation and the parent company of the Purchaser (“Holdings”), (iv) Neon Maple Midco Inc., an Ontario corporation and the parent company of Holdings (“Midco”), (v) Neon Maple Parent Inc., an Ontario corporation and the parent company of Midco (“Canada Parent”), (vi) AI Maple Holdings, L.P., a Cayman Islands exempted limited partnership and the sole stockholder of Canada Parent (“AI Maple Holdings”), (vii) AI Maple Aggregator, L.P., a Cayman Islands exempted limited partnership and the sole limited partner of AI Maple Holdings (“AI Maple Aggregator”), (viii) AI Maple Holdings GP Limited, a Cayman Islands exempted company and the general partner of each of AI Maple Holdings and AI Maple Aggregator (“AI Maple GP”), (ix) Advent International GPE X Limited Partnership, a Cayman Islands exempted partnership and the sole member of AI Maple GP (“AI GPE X”), (x) Advent International, L.P., a Delaware limited partnership and the investment adviser to AI GPE X (“Advent”), (xi) Caisse de dépôt et placement du Québec (“CDPQ”), a legal person governed by an Act respecting the Caisse de dépôt et placement du Québec, (xii) Novacap Management Inc. (“Novacap”), a company incorporated under the laws of Canada and the general partner of certain investment funds and vehicles holding Multiple Voting Shares (as defined below), (xiii) Philip Fayer, and (xiv) Whiskey Papa Fox Inc., a corporation existing under the federal laws of Canada (together with CDPQ, Novacap and Mr. Fayer, each a “Rollover Shareholder” and, collectively, the “Rollover Shareholders”).

This Amended Transaction Statement relates to the plan of arrangement (the “Plan of Arrangement”), pursuant to Section 192 of the Canada Business Corporations Act, contemplated by an arrangement agreement between Purchaser and Nuvei, dated as of April 1, 2024 (the “Arrangement Agreement”), pursuant to which Purchaser will acquire all of the outstanding subordinate voting shares of Nuvei (“Subordinate Voting Shares”) and multiple voting shares of Nuvei (“Multiple Voting Shares”) that are not Rollover Shares (as defined in the Arrangement Agreement) for a price of US$34.00 per share, in cash. A copy of the Plan of Arrangement is included as Appendix B to the Management Proxy Circular, which is attached as Exhibit (a)(2)(i) hereto (the “Circular”). A special meeting of Nuvei’s shareholders has been called for June 18, 2024 (the “Meeting”) to approve a special resolution approving the Plan of Arrangement in the form attached as Appendix A to the Circular (the “Arrangement Resolution”). The Circular has been provided to Nuvei’s shareholders pursuant to applicable Canadian law.

Capitalized terms used but not defined in this Amended Transaction Statement shall have the meanings given to them in the Circular or the Initial Schedule 13E-3, as applicable.

Except as otherwise set forth herein, the information set forth in the Initial Schedule 13E-3 remains unchanged and is incorporated by reference into this Amended Transaction Statement. All information set forth in this Amended Transaction Statement should be read together with the information contained in or incorporated by reference in the Initial Schedule 13E-3.

All information contained in, or incorporated by reference into, this Amended Transaction Statement concerning each Filing Person has been supplied by such Filing Person, and no Filing Person is responsible for the accuracy or completeness of the information supplied by any other Filing Person.


ITEM 1. SUMMARY TERM SHEET.

 

1.

The following paragraph under Item 1 is hereby deleted:

“The Purchaser Filing Parties believe the Arrangement is preferable to other transaction structures because the Arrangement (i) is the most direct and effective way to enable the Purchaser to acquire ownership and control of all of the Subordinate Voting Shares and the Multiple Voting Shares at the same time, (ii) represents an opportunity for the Shareholders (other than the Rollover Shareholders) to immediately realize the value of their investment in the Company, with price certainty at a significant and attractive premium on the Subordinate Voting Shares of approximately 56% to the closing price of the Subordinate Voting Shares on the Nasdaq on March 15, 2024, the last trading day prior to media reports regarding a potential transaction involving the Company, and a premium of approximately 48% to the 90-day volume weighted average trading price per Subordinate Voting Share as of such date, and (iii) also allows Philip Fayer (directly and indirectly through WPF) to maintain a significant portion, and allows Novacap and CDPQ to maintain a portion, of their respective equity investment in the Company to preserve and expand upon the long-term strategy, vision and core values of Nuvei. In the course of considering the going-private transaction, the Purchaser Filing Parties did not actively consider alternative transaction structures because the Purchaser Filing Parties believed no other alternatives would enable them to achieve the same objectives.”

 

2.

The following paragraph under Item 1 is hereby added:

“The Purchaser Filing Parties believe the Arrangement is preferable to other transaction structures because the Arrangement (i) is the most direct and effective way to enable the Purchaser to acquire ownership and control of all of the Subordinate Voting Shares and the Multiple Voting Shares at the same time, (ii) represents an opportunity for the Shareholders (other than the Rollover Shareholders) to immediately realize the value of their investment in the Company, with price certainty at a significant and attractive premium on the Subordinate Voting Shares of approximately 56% to the closing price of the Subordinate Voting Shares on the Nasdaq on March 15, 2024, the last trading day prior to media reports regarding a potential transaction involving the Company, and a premium of approximately 48% to the 90-day volume weighted average trading price per Subordinate Voting Share as of such date, and (iii) also allows Philip Fayer (directly and indirectly through WPF) to maintain a significant portion, and allows Novacap and CDPQ to maintain a portion, of their respective equity investment in the Company to preserve and expand upon the long-term strategy, vision and core values of Nuvei. In the course of considering the going-private transaction, the Purchaser Filing Parties did not consider alternative transaction structures because the Purchaser Filing Parties believed no other alternatives would enable them to achieve the same objectives.”

ITEM 2. SUBJECT COMPANY INFORMATION.

(c) Item 2(c) is hereby amended and supplemented as follows:

There is no established trading market for the Multiple Voting Shares.

ITEM 3. IDENTITY AND BACKGROUND OF FILING PERSON.

(a) The disclosure listing the directors and executive officers of the Company and each Purchaser Filing Party under Item 3(a) and pursuant to Item 1003(c) of Regulation M-A is hereby amended and restated as follows:

“APPENDIX H

DIRECTORS AND EXECUTIVE OFFICERS OF THE COMPANY AND

EACH PURCHASER FILING PARTY

1. Directors and Executive Officers of the Purchaser Entities1

Each of the Purchaser Entities was formed in connection with the Arrangement. Set forth below is the name, position, principal occupation(s) held in the past five years, business address and citizenship of the executive officers and directors of (i) the Purchaser and (ii) each of the other Purchaser Entities: Canada Parent, Neon Maple Midco Inc. and Neon Maple Holdings Inc. The business telephone number of each director and executive officer of the Purchaser Entities is (+1) 617-951-9400, except as noted below.

During the last five years, none of the Purchaser Entities nor any of the directors or executive officers of any Purchaser Entity have been (a) convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or (b) a party to any judicial or administrative proceeding (except for matters that were dismissed without sanction or settlement) that resulted in a judgment or decree or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities laws, or a finding of any violation of federal or state securities laws.

 

Name/Citizenship/Business Address   Company   Address   Position Held   From   To
Executive Officers and Directors of Purchaser
           

Benjamin Scotto

USA

  Purchaser   c/o Advent International, L.P., Prudential Tower   Director and President   March 2024   Present

 

1 

Advent positions prior to June 30, 2023 are reflective of positions held at Advent International Corporation.


Name/Citizenship/Business Address   Company   Address   Position Held   From   To

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

     

800 Boylston Street

Boston, MA 02199-8069

USA

           
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Vice President, Deputy Chief Financial Officer, Assistant Treasurer   June 2023   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Vice President of Finance   June 2020   June 2023
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Vice President of Finance – Financial Planning & Analysis and General Partner Group   July 2010   June 2020

Donald Whitt

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Purchaser  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Secretary and Treasurer   March 2024   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Vice President of Global Tax   April 2019   Present

Neil Crawford

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Purchaser  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

 

  Director   March 2024   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

 

  Vice President of Finance – Fund Administration   June 2023   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

 

  Director Fund Administration   January 2020   June 2023
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

 

  Controller   November 2015   December 2019

Kevin West2

Canada

  Purchaser   c/o Advent International, L.P., Prudential Tower   Director   March 2024   Present

 

2 

The business telephone number of Kevin West is 416-304-4269.


Name/Citizenship/Business Address   Company   Address   Position Held   From   To

c/o SkyLaw

3 Bridgman Avenue, Suite 204 on Floor 2.5

Toronto, ON M5R 3V4

Canada

     

800 Boylston Street

Boston, MA 02199-8069

USA

           
  SkyLaw Professional Corporation  

c/o SkyLaw

3 Bridgman Avenue, Suite 204 on Floor 2.5

Toronto, ON M5R 3V4

Canada

  President   October 2010   Present
 
Executive Officers and Directors of Other Purchaser Entities

Benjamin Scotto

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Other Purchaser Entities  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Director   March 2024   Present
  Other Purchaser Entities  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  President   March 2024   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Vice President, Deputy Chief Financial Officer, Assistant Treasurer   June 2023   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Vice President of Finance   June 2020   June 2023
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Vice President of Finance – Financial Planning & Analysis and General Partner Group   July 2010   June 2020

Donald Whitt

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Other Purchaser Entities  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

 

  Secretary and Treasurer   March 2024   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Vice President of Global Tax   April 2019   Present

2. Directors and Executive Officers of the Advent Entities

Along with the Purchaser Entities, each of AI Maple Holdings, L.P. and its sole limited partner, AI Maple Aggregator, L.P. (together, the “Advent Holding Partnerships”) was formed in connection with the Arrangement. The Advent Holding Partnerships are controlled by their general partner, AI Maple Holdings GP Limited. Advent International GPE X Limited Partnership, which is controlled by Advent, is the sole


limited partner of AI Maple Aggregator, L.P. and the sole shareholder of AI Maple Holdings GP Limited. Advent is controlled by its general partner, Advent International GP, LLC (the “Advent Control Entity”).

Advent is one of the largest and most experienced global private equity investors. The firm has invested in over 415 private equity investments across more than 40 countries and regions, and as of September 30, 2023, had $91 billion in assets under management.

Set forth below is the name, position, present principal occupation, business address and citizenship of the executive officers and directors of (i) AI Maple Holdings GP Limited, (ii) Advent and (iii) the Advent Control Entity. The business telephone number of each director and executive officer of AI Maple Holdings GP Limited, Advent and the Advent Control Entity is (+1) 617-951-9400, except as noted below.

During the last five years, none of AI Maple Holdings GP Limited, Advent or the Advent Control Entity, nor any of the directors or executive officers of AI Maple Holdings GP Limited, Advent or the Advent Control Entity have been (a) convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or (b) a party to any judicial or administrative proceeding (except for matters that were dismissed without sanction or settlement) that resulted in a judgment or decree or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities laws, or a finding of any violation of federal or state securities laws.

 

Name/Citizenship/Business Address    Company    Address    Position Held    From    To
Executive Officers and Directors of AI Maple Holdings GP Limited

Chris Egan

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

   AI Maple Holdings GP Limited    c/o Maples Corporate Services Limited PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands    Director    April 2024    Present
   Advent Control Entity   

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

   Senior Vice President & Managing Partner    June 2019    Present
   Advent Control Entity   

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

   Vice President, Managing Director    July 2010    June 2019

Jeff Paduch

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

   AI Maple Holdings GP Limited    c/o Maples Corporate Services Limited PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands    Director    April 2024    Present
   Advent International   

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

   Managing Partner    January 2020    Present
   Advent International   

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

   Managing Director    January 2014    December 2019


Name/Citizenship/Business Address   Company   Address   Position Held   From   To

Bo Huang

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  AI Maple Holdings GP Limited   c/o Maples Corporate Services Limited PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands   Director   April 2024   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Vice President & Managing Director   May 2022   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Principal   January 2018   May 2022
 
Executive Officers and Directors of Advent

Heather R. Zuzenak

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Advent and Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Chief Compliance Officer   July 2013   Present
 
Executive Officers and Directors of Advent International GP, LLC

James G.A. Brocklebank3

England

c/o Advent International Ltd., 160

Victoria Street, London SW1E 5LB

United Kingdom

  Advent Control Entity  

c/o Advent International Ltd., 160

Victoria Street, London SW1E 5LB

United Kingdom

  Director   June 2023   Present
  Advent Control Entity  

c/o Advent International Ltd., 160

Victoria Street, London SW1E 5LB

United Kingdom

  Senior Vice President & Managing Partner   June 2015   Present
  Advent Control Entity  

c/o Advent International Ltd., 160

Victoria Street, London SW1E 5LB

United Kingdom

  Executive Officers Committee Member   January 2015   Present
           

David M. Mussafer

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Director   February 2006   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Chairman & Managing Partner   June 2016   Present

 

3 

The business telephone number of James G.A. Brocklebank is +44 (0)20 7333 0800.


Name/Citizenship/Business Address   Company   Address   Position Held   From   To
    Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Executive Officers Committee Member   July 2002   Present

John L. Maldonado

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Director   December 2020   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Executive Officers Committee Member   March 2020   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Senior Vice President & Managing Partner   June 2017   Present

Susan Gentile

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Senior Vice President & Managing Director, Chief Financial Officer, Treasurer   October 2022   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Managing Director, Chief Financial Officer   August 2022   Present
  H.I.G. Capital  

1450 Brickell Avenue

31st Floor

Miami, FL 33131

  Chief Financial Officer   May 2018   July 2022

Amanda McGrady Morrison

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Vice President   January 2023   Present
  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Managing Director, Chief Legal Officer, General Counsel   September 2022   Present
  Ropes & Gray LLP  

Prudential Tower

800 Boylston Street

Boston, MA 02199-3600

USA

  Partner   November 2009   September 2022

Andrew D. Dodge

USA

  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

  Vice President, Deputy General Counsel, Secretary   June 2014   Present


Name/Citizenship/Business Address   Company   Address   Position Held   From   To

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

     

Boston, MA 02199-8069

USA

           

Heather K. Miner

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Managing Director, Chief Operating Officer   November 2022   Present
  Goldman Sachs  

200 West Street

New York, NY 10282

United States

 

  Partner, Global Co-Head of Client Solutions & Capital Markets, Asset Management   March 2022   July 2022
  Goldman Sachs  

200 West Street

New York, NY 10282

United States

 

  Partner, Chief Operating Officer, Asset Management   April 2021   March 2022
  Goldman Sachs  

200 West Street

New York, NY 10282

United States

  Partner, Global Head of Investor Relations   September 2017   April 2021

Heather R. Zuzenak

USA

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Advent and Advent Control Entity  

c/o Advent International, L.P., Prudential Tower

800 Boylston Street

Boston, MA 02199-8069

USA

  Chief Compliance Officer   July 2013   Present

Patrice Etlin4

Brazil and France

c/o Advent do Brasil Consultoria e

Participações Ltda., Av. Brig. Faria Lima 3400, conj 41, 04538-132 São Paulo, SP

Brazil

  Advent Control Entity  

Advent do Brasil Consultoria e

Participações Ltda., Av. Brig. Faria Lima 3400, conj 41, 04538-132 São Paulo, SP

Brazil

  Senior Vice President & Managing Partner   June 2015   Present
  Advent Control Entity  

Advent do Brasil Consultoria e

Participações Ltda., Av. Brig. Faria Lima 3400, conj 41, 04538-132 São Paulo, SP

Brazil

  Executive Officers Committee Member   January 2015   Present

Jan Janshen5

Germany

c/o Advent International Ltd., 160 Victoria Street, London

SW1E 5LB

United Kingdom

  Advent Control Entity  

c/o Advent International Ltd., 160 Victoria Street, London

SW1E 5LB

United Kingdom

  Executive Officers Committee Member   June 2017   Present
  Advent Control Entity  

c/o Advent International Ltd., 160 Victoria Street, London

SW1E 5LB

United Kingdom

 

 

Senior Vice President & Managing Partner

 

  April 2017   Present

 

4 

The business telephone number of Patrice Etlin is +55 11 3014 6800.

5 

The business telephone number of Jan Janshen is +44 (0)20 7333 0800.


3. Directors and Executive Officers of the Company

The names and material occupations, positions, offices or employment during the past five years of each director and executive officer of the Company is listed below. The business telephone number of each director and executive officer of the Company is (514) 313-1190.

During the last five years, neither the Company nor any of the directors or executive officers of the Company have been (a) convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or (b) a party to any judicial or administrative proceeding (except for matters that were dismissed without sanction or settlement) that resulted in a judgment or decree or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities laws, or a finding of any violation of federal or state securities laws.

 

Name/Citizenship/Business Address   Company   Address   Position Held   From   To

Philip Fayer

Canada

c/o 900-1100 René-Lévesque Boulevard West, Montréal, Québec H3B5K6

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Director   September 2017   Present
  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Chair, Chief Executive Officer   September 2017   Present
  WPF   c/o 345 Victoria Avenue, Suite 510 Westmount Québec H3Z 2N1   President & Secretary   October 2017   Present

Timothy A. Dent

USA

c/o 254 Commonwealth Ave, Boston MA 02116

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Director   August 2022   Present
  DraftKings Inc.   c/o 222 Berkeley St, Boston, MA   Chief Financial and Chief Compliance Officer   January 2013   May 2022

Maren Hwei Chyun Lau

USA

c/o Av. Brigadeiro Faria Lima, 3732, Itaim Bibi, São Paulo - SP São Paulo 04538-132 (Brazil)

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Director   August 2022   Present
  Meta Brazil  

c/o Rua Leopoldo Couto de Maalhaes Junior, 700

São Paulo Brazil 04542-200

  Regional Vice President   February 2019   Present

David Lewin

Canada

c/o 3400 rue de l’Église, Suite 700, Brossard, Québec J4Z 0P3, Canada

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Director   September 2017   Present
  Novacap TMT  

c/o 3400 rue de l’Église, Suite 700, Brossard, Québec J4Z 0P3, Canada

  Senior Partner   January 2011   Present
  Novacap DI Funds  

c/o 3400 rue de l’Église, Suite 700, Brossard, Québec J4Z 0P3, Canada

  Senior Partner   January 2011   Present


Name/Citizenship/Business Address   Company   Address   Position Held   From   To

Daniela Mielke

USA and Germany

c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Director   September 2020   Present
  Commerce Technology Advisors, LLC  

c/o 2570 Purisima Creek

Road, Half Moon Bay,

CA 94019

  Managing Partner   April 2016   Present
  RS2 Software Inc.  

c/o 4643 S Ulster Street,

Suite 1285, Denver CO

8023

  Chief Executive Officer   February 2018   December 2020

Coretha Rushing

USA

c/o 2221 Peachtree Street NE, STE D322 Atlanta Georgia 30309

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Director   August 2023   Present
  The ExCo Leadership Group   c/o 1621 M Kent Street, Suit 805, Arlington, VA 22209   Managing Director and Executive Mentor   February 2020   Present
  Equifax, Inc.   c/o 1550 Peachtree St E, Atlanta, GA 30309   Chief People Officer   May 2006   January 2020
  ThredUp Inc.   c/o 114 Sansome St., 5th Floor, San Francisco, CA 94104   Director   January 2020   Present
  2U Inc.  

c/o 7900 Harkins Road

Lanham, MD 20706

  Director   July 2016   Present
  Spencer Stuart   c/o 90 Park Ave 4th Floor, New York, NY 10016   External Board Advisor   January 2021   Present
  CR Consulting Alliance LLC   c/o 2221 Peachtree Road NE, Suite D-322, Atlanta, GA 30309   President   November 2019   Present

Pascal Tremblay

Canada

c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Director   September 2017   Present
  Novacap Fund Management Inc.   c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada   Director   July 2014   Present
  Novacap Fund Management Inc.   c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada   Officer (President, TMT) and Managing Partner   September 2014   Present
  Novacap TMT   c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada   President and Chief Executive Officer, Managing Partner   July 2017   Present
  Novacap DI Funds   c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada   Managing Partner   July 2022   Present

Samir Zabaneh

Canada and Jordan

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Director   March 2022   Present


Name/Citizenship/Business Address   Company   Address   Position Held   From   To
c/o 85 Richmond Street West, 11th Floor, Toronto, Ontario, Canada   TouchBistro, Inc.   c/o 85 Richmond Street West, 11th Floor, Toronto, Ontario   Chief Executive Officer and Chair   April 2021   Present
 

ACI

Worldwide

  c/o ACI Worldwide, 2811 Ponce de Leon Blvd, PH1, Coral Gables, FL 33134   Director   August 2021   Present
 

Fiserv, Inc. (previously First Data Corporation)

 

c/o 1 Broadway, New York, NY 10004

  EVP   July 2018   March 2020

David Schwartz

Canada

c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Chief Financial Officer   November 2018   Present

Max Attias

Israel and France

c/o 121 Menachem Begin Tel Aviv, Israel

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Chief Information Officer   May 2024   Present
  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Group Chief Technology Officer  

October 2021

  May 2024
  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Chief Operating Officer  

November 2019

  September 2021
  SafeCharge   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Chief Information Officer   September 2018   November 2019

Lindsay Matthews

Canada

c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   General Counsel and Corporate Secretary   May 2021   Present
 

Gildan Activewear

Inc.

  c/o 600 de Maisonneuve West, 33rd floor, Montréal, Québec, H3A 3J2, Canada  

Vice-President, General Counsel and

Corporate Secretary

  January 2010   May 2021

Neil Erlick

Canada

c/o 1100 Boul. René-Lévesque O #900, Montréal, QC H3B 4N4

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Chief Corporate Development Officer   January 2021   Present
 

Payment Sports & Entertainment

Inc.

 

c/o 468 rue Dufferin

Hampstead (Québec) H3X 2Y9

  Founder   May 2020   December 2020
  Paysafe Group   c/o 5335 Gate Parkway Fourth Floor Jacksonville, FL 32256   EVP, Business Development   May 2015   December 2019

Yuval Ziv

Israel

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   President   February 2022   Present


Name/Citizenship/Business Address   Company   Address   Position Held   From   To
c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Managing Director (Digital Payments)   October 2019   February 2022
  SafeCharge  

c/o Tsarigradsko Shoshe

115L Sofia, Bulgaria

  Chief Operating Officer   April 2014   October 2019
  SafeCharge  

c/o Tsarigradsko Shoshe

115L Sofia, Bulgaria

  Chief Commercial Officer   October 2018   October 2019

Kanwarpal Singh (Vicky) Bindra

USA

c/o 1375 N Scottsdale Rd # 400, Scottsdale, AZ 85257

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Chief Product & Operations Officer   November 2022   Present
  Fidelity National Information Services, Inc.   c/o 347 Riverside Avenue Jacksonville, Florida 32202   Group President, Chief Product Officer   May 2020   October 2022
  Pine Labs Private Ltd.   c/o Candor TechSpace, 4th & 5th Floor, Tower 6, Plot No. B2, Sector 62, Noida, U.P., India 201309   CEO   April 2018   March 2020

Scott Calliham

USA

c/o 1375 N Scottsdale Rd # 400, Scottsdale, AZ 85257

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Chief Strategy Officer   May 2023   Present
  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   SVP, Head of M&A and Strategy   November 2018   May 2023

Caitlin Shetter

USA

c/o 303 Perimeter Center N #600, Atlanta, GA 30346

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Chief People Officer   May 2023   Present
  Paya Holdings Inc.   c/o 303 Perimeter Center N, Atlanta, GA 30346   Chief People Officer   January 2022   May 2023
  Variant Inc.   c/o 14367 Howard Rd, Dayton, Maryland, 21036, United States   Head of People   December 2021   December 2022
  Spanx Inc.   c/o 3035 Peachtree Rd. NE, Atlanta, GA 30305   Head of People   July 2017   July 2020

Gang Wang

USA

c/o 1375 N Scottsdale Rd # 400,

Scottsdale, AZ 85257

  Nuvei   c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4   Chief Technology Officer   May 2024   Present
  Stripe Inc.   c/o 354 Oyster Point Blvd, South San Francisco, CA 94080   Head of Payment Method   February 2020   May 2024
  Intuit   c/o 2700 Coast Ave. Mountain View, CA 94043   VP of Engineering   January 2007   February 2020

4. Directors and Executive Officers of CDPQ


Set forth below is the name, position, present principal occupation, business address and citizenship of the executive officers and directors of CDPQ. The business telephone number of each director and executive officer of CDPQ is (514) 842-3261.

During the last five years, neither CDPQ nor any of the directors or executive officers of CDPQ have been (a) convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or (b) a party to any judicial or administrative proceeding (except for matters that were dismissed without sanction or settlement) that resulted in a judgment or decree or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities laws, or a finding of any violation of federal or state securities laws.

 

Name/Citizenship/Business Address   Company   Address   Position Held   From   To

Jean St-Gelais

Canada

c/o 1000, place Jean-Paul-Riopelle

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

Montréal, Québec H2Z 2B3

  Chairman of the Board of Directors   October 2021   Present
  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

Montréal, Québec H2Z 2B3

  Corporate Director   May 2021   October 2021
  La Capitale Assurance et services financiers, La Capitale mutuelle de l’administration publique et La Capitale groupe financier  

c/o 2525, boulevard Laurier, Québec (Québec) G1V 2L2

  President and Chief Executive Officer   May 2016   June 2020

Jean-François Blais

Canada

c/o 1000, place Jean-Paul-Riopelle

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

Montréal, Québec H2Z 2B3

  Corporate Director   May 2020   Present

Ivana Bonnet-Zivcevic

Serbia and France

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

Montréal, Québec H2Z 2B3

  Corporate Director   May 2020   Present
  Credit Agricole CIB Italy  

c/o Credit Agricole Corporate Investment Bank, Piazza Cavour, 2 20121 Milano, Italy

  Senior Country Officer   July 2014   March 2023

Florence Brun-Jolicoeur

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Corporate Director   October 2023   Present
  Aviseo   c/o 451 Rue Sainte-Catherine Suite 301, Montréal, QC H3B 1B1   Senior Consultant, Strategy   March 2022   Present
  KPMG   c/o 600, boul. de Maisonneuve Ouest, Bureau 1500, Montréal, QC, H3A 3J2   Senior Consultant, Forensic Accounting   February 2021   February 2022
  KPMG   c/o 600, boul. de Maisonneuve Ouest, Bureau 1500, Montréal, QC, H3A 3J2   Consultant, Audit   January 2018   February 2022

Alain Côté

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Corporate Director   August 2019   Present
  Deloitte   c/o 1190 Av. des Canadiens-de-Montréal #500, Montréal, QC H3B 0M7   Partner   October 1980   May 2019

René Dufresne

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Corporate Director   June 2022   Present
 

Retraite

Québec

  c/o 2600, Laurier Blvd, Suite 544 Québec (Québec) G1V 4T3   President and Chief Executive Officer   January 2022   Present
 

Ministère de l’agriculture, des Pêcheries et de l’alimentation

 

c/o 200, chemin Sainte-Foy

Québec (Québec) G1R 4X6

  Deputy Minister   June 2019   December 2021

Charles Emond

Canada

  CDPQ   c/o 1000, place Jean-Paul-Riopelle   President, Chief Executive   February 2020   Present


Name/Citizenship/Business Address   Company   Address   Position Held   From   To

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

     

11th floor

Montréal, Québec H2Z 2B3

 

Officer and Corporate

Director

       
  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President, Quebec, Head of Private Equity & Strategic Planning   February 2019   Present

Olga Farman

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Corporate Director   June 2022   Present
 

Norton Rose

Fulbright LLP

  c/o 2828 Bd Laurier Bureau 1500, Québec City, Québec G1V 0B9   Managing Partner, Québec Office   October 2016   Present

Nelson Gentiletti

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Corporate Director   June 2022   Present
  Loop Industries   c/o 480, Fernand Poitras Street Terrebonne, Québec, Canada J6Y 1Y4   Chief Operating and Chief Financial Officer   January 2019   February 2021

Lynn Jeanniot

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Corporate Director   December 2019   Present

Wendy Murdock

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Corporate Director   March 2016   Present

Audrey Murray

Canada

c/o 1000, place Jean-Paul-Riopelle

Montréal, Québec H2Z 2B3

  CDPQ   c/o 1000, place Jean-Paul-Riopelle Montréal, Québec H2Z 2B3   Corporate Director   May 2024   Present
  Commission de la construction du Québec   c/o 8485, av. Christophe-Colomb Montréal (Québec) H2M 0A7   President and Chief Executive Officer   October 2023   Present
  Ministère du Tourisme   c/o 900, boulevard René-Lévesque Est, bureau 400 Québec (Québec) G1R 2B5   Deputy Minister   October 2022   October 2023
  Commission des partenaires du marché du travail   c/o 800, rue du Square-Victoria, 28e étage Case postale 100 Montréal (Québec) H4Z 1B7   President   June 2018   June 2022

Ghislain Parent

Canada

c/o 1000, place Jean-Paul-Riopelle

Montréal, Québec H2Z 2B3

  CDPQ   c/o 1000, place Jean-Paul-Riopelle Montréal, Québec H2Z 2B3   Corporate Director   May 2024   Present
  National Bank of Canada   c/o 800 Saint-Jacques Street Montreal, H3C 1A3   Executive Vice-President, International   April 2022   September 2023
  National Bank of Canada   c/o 800 Saint-Jacques Street Montreal, H3C 1A3   Chief Financial Officer   July 2011   April 2022

Marc Tremblay

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Corporate Director   October 2023   Present
  Quebecor  

c/o 612 Saint-Jacques St.

Montréal, Québec

 

Chief Operations and Legal Officer

  January 2019   March 2022

Pierre Beaulieu

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

4th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President, Digital Technology   February 2023   Present
  CDPQ  

c/o 1000, place Jean-Paul- Riopelle

4th floor

Montreal, Quebec H2Z 2B3

  Vice-President, Platforms, Operations and Cybersecurity   August 2021   February 2023
  Industrielle Alliance   c/o 1080 Grande Allée O Québec (Québec) G1S1C7 Canada   Consultant   September 2020   August 2021
  PSP Investments   c/o 1250 Boul. René-Lévesque O #1400, Montréal, QC H3B 5E9   Consultant   November 2017   September 2020


Name/Citizenship/Business Address   Company   Address   Position Held   From   To

Marc-André Blanchard

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

10th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President and Head of CDPQ Global and Global Head of Sustainability   September 2020   Present
 

United Nations

 

c/o 405 E 45th St, New York, NY 10017

 

Ambassador and Permanent Representative of Canada

 

April 2016

 

September 2020

Sarah-Émilie Bouchard

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President, Strategy, Governmental Affairs and Chief of Staff   November 2023   Present
 

CDPQ

 

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

 

Chief of Staff, Office of the President and CEO

 

March 2020

 

November 2023

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle 11th floor

Montréal, Québec H2Z 2B3

  Senior Director, Public Affairs   February 2018   March 2020

Marc Cormier

France and Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

6th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President and Head of Fixed Income   November 2009   Present

Vincent Delisle

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

7th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President and Head of Liquid Markets   August 2020   Present
 

Hexavest

 

c/o 1, Complexe Desjardins

South Tour, 20th floor

Montreal (Quebec)

Canada H5B 1B2

 

Co Chief Investment Officer

 

May 2018

 

April 2020

Rana Ghorayeb

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President and Head of Real Estate   March 2024   Present
  Otéral Capital  

c/o 1001, Square-Victoria

Street, Suite C-200

Montréal, (Québec) H2Z 2B1

 

Executive Vice-President and President and Chief Executive Officer

 

May 2019

 

March 2024

Ève Giard

Canada

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

5th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President, Talent and Performance   February 2020   Present
 

CDPQ

 

c/o 1000, place Jean-Paul-Riopelle

5th floor

Montréal, Québec H2Z 2B3

 

Chief of Staff, Office of the President and CEO

  2017  

February 2020

Emmanuel Jaclot

France

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

8th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President and Head of Infrastructure   June 2018   Present


Name/Citizenship/Business Address   Company   Address   Position Held   From   To

Michel Lalande

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President, Legal Affairs, Compliance and Secretariat   January 2021   Present
 

BCE Inc. and Bell Canada

 

c/o 1050 Côte du Beaver Hall,

Montréal, QC H3B 5B4

 

Chief Legal Officer and Corporate Secretary

 

February 2020

 

January 2021

  BCE Inc. and Bell Canada  

c/o 1050 Côte du Beaver Hall,

Montréal, QC H3B 5B4

  Executive Vice-President, Legal Affairs and Secretariat   September 2013   February 2020

David Latour

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

9th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President and Chief Risk Officer   May 2023   Present
 

CDPQ

 

1000, place Jean-Paul-Riopelle 9th floor

Montréal, Québec H2Z 2B3

 

Vice-President, Capital Solutions

 

February 2020

 

February 2023

  CDPQ  

1,000, place Jean-Paul-Riopelle 9th floor

Montréal, Québec H2Z 2B3

  Vice-President, Risk, Fixed Income   November 2016   February 2020

Martin Longchamps

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President and Head of Private Equity   November 2022   Present
 

PSP Investments

 

c/o 1250 Boul. René-Lévesque O #1400,

Montréal, QC H3B 5E9

 

Managing Director, Head of Origination and Execution, Private Equity

 

January 2018

 

November 2022

Maarika Paul

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President and Chief Financial and Operations Officer   June 2011   Present

Kim Thomassin

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President and Head of Québec   February 2022   Present
  CDPQ  

c/o 1000, place Jean-Paul-Riopelle 11th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President and Head of Investments in Quebec and Stewardship Investing   April 2020   February 2022
  CDPQ  

c/o 1000, place Jean-Paul-Riopelle 11th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President, Legal Affairs and Secretariat   January 2017   April 2020

Philippe Tremblay

Canada

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3

  Executive Vice-President, Depositors and Total Portfolio   January 2024   Present
 

CDPQ

 

c/o 1000, place Jean-Paul-Riopelle 11th floor

Montréal, Québec H2Z 2B3

 

Vice-President, Risk, Equity Markets, Total Portfolio and Modelling

 

June 2023

 

January 2024

  CDPQ  

c/o 1000, place Jean-Paul-Riopelle 11th floor

Montréal, Québec H2Z 2B3

  Vice-President, Risk, Asset Allocation, Portfolio and Modelling   July 2013   June 2023

5. Directors and Executive Officers of Novacap Management Inc.

Set forth below is the name, position, present principal occupation, business address and citizenship of the executive officers and directors of each of Novacap Management Inc. and Novacap Fund Management Inc., the ultimate control person of Novacap Management Inc. The business telephone number of each director and executive officer of Novacap Management Inc. and Novacap Management Inc. is (450) 651-5000.

During the last five years, neither Novacap Management Inc. nor Novacap Fund Management Inc., nor any of the directors or executive officers of Novacap Management Inc. or Novacap Fund Management Inc., have been (a) convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or (b) a party to any judicial or administrative proceeding (except for matters that were dismissed without sanction or settlement) that resulted in a judgment or decree or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities laws, or a finding of any violation of federal or state securities laws.


Name/Citizenship/Business Address    Company    Address    Position Held   From    To
Executive Officers and Directors of Novacap Management Inc.
           

Pascal Tremblay

Canada

c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada

   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Director  

December 2013

   Present
   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Officer (President, TMT) and Managing Partner   September 2014    Present
   Novacap TMT    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    President and Chief Executive Officer, Managing Partner   July 2017    Present
   Novacap DI Funds    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Managing Partner   July 2022    Present
           

Jacques Foisy

Canada

c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada

   Novacap Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Director   December 2013    Present
   Novacap Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Officer (President, Industries)   September 2014    Present
   Novacap Industries Funds    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Officer (Chairman) and Managing Partner   July 2017    Present
   Novacap Industries Funds    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Co- Managing Partner   July 2023    Present
           

Stéphane Blanchet

Canada

c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada

   Novacap Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Director   July 2017    Present
   Novacap Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Officer (Treasurer and CFO)   December 2013    Present
           

Bruno Duguay

Canada

c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada

   Novacap Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Officer (Secretary and Chief Legal Officer)   December 2014    Present
   Novacap Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Officer (Chief Legal Officer)   September 2016    Present
 
Executive Officers and Directors of Novacap Fund Management Inc.
           

Jacques Foisy

Canada

c/o 3400 rue de l’Éclipse,

Suite 700, Brossard,

Québec, J4Z 0P3, Canada

   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Director   July 2014    Present
   Novacap Industries Funds    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Officer (Chairman) and Managing Partner   July 2017    Present
   Novacap Industries Funds    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Co-Managing Partner   July 2023    Present


Name/Citizenship/Business Address    Company    Address    Position Held   From    To

Pascal Tremblay

Canada

c/o 3400 rue de l’Éclipse,

Suite 700, Brossard,

Québec, J4Z 0P3, Canada

   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Director  

December 2013

   Present
   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Officer (President, TMT) and Managing Partner   September 2014    Present
   Novacap TMT    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    President and Chief Executive Officer, Managing Partner   July 2017    Present
   Novacap DI Funds    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Managing Partner   July 2022    Present
           

François Laflamme

Canada

c/o 3400 rue de l’Éclipse,

Suite 700, Brossard,

Québec, J4Z 0P3, Canada

   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Director   July 2017    Present
   Novacap TMT    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Senior Partner   July 2017    Present
   Novacap DI Funds    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Senior Partner   July 2022    Present
           

Marc Paiement

Canada

c/o 3400 rue de l’Éclipse,

Suite 700, Brossard,

Québec, J4Z 0P3, Canada

   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Director   July 2017    Present
   Novacap Industries Funds    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Senior Partner   July 2017    Present
           

Stéphane Blanchet

Canada

c/o 3400 rue de l’Éclipse,

Suite 700, Brossard,

Québec, J4Z 0P3, Canada

   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Director   July 2017    Present
   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Officer (Treasurer, CFO)   September 2014    Present
           

Jean-François Routhier

Canada

c/o 3400 rue de l’Éclipse,

Suite 700, Brossard,

Québec, J4Z 0P3, Canada

   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Director   January 2021    Present
   Novacap Industries Funds    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Co- Managing Partner   July 2023    Present
           

Ted Mocarski

USA

c/o 437 Madison Avenue,

Suite 2802, New York,

New York, USA 10022

   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Director   January 2021    Present
   Novacap TMT    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Senior Partner   July 2017    Present
   Novacap DI Funds    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Senior Partner   July 2022    Present


Name/Citizenship/Business Address    Company    Address    Position Held   From    To

Bruno Duguay

Canada

c/o 3400 rue de l’Éclipse,

Suite 700, Brossard,

Québec, J4Z 0P3, Canada

   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Officer (Secretary)   September 2014    Present
   Novacap Fund Management Inc.    c/o 3400 rue de l’Éclipse, Suite 700, Brossard, Québec, J4Z 0P3, Canada    Chief Legal Officer   July 2017    Present

6. Directors and Executive Officers of WPF

Set forth below is the name, position, present principal occupation, business address and citizenship of the sole executive officer and director of WPF. The business telephone number of the sole executive officer and director of WPF is (438) 803-3191.

During the last five years, neither WPF nor any of the directors or executive officers of WPF have been (a) convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or (b) a party to any judicial or administrative proceeding (except for matters that were dismissed without sanction or settlement) that resulted in a judgment or decree or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities laws, or a finding of any violation of federal or state securities laws.

 

Name/Citizenship/Business Address    Company    Address    Position Held   From    To

Philip Fayer

Canada

c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4

   WPF    c/o 345 Victoria Avenue, Suite 510 Westmount Québec H3Z 2N1    President & Secretary   October 2017    Present
   Nuvei    c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4    Director   September 2017    Present
   Nuvei    c/o 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4    Chair, Chief Executive Officer   September 2017    Present”

ITEM 7. PURPOSES, ALTERNATIVES, REASONS AND EFFECTS.

(a) Item 7 is hereby amended as follows:

 

1.

The following paragraph under Item 7(a) is hereby deleted:

“The Purchaser Filing Parties believe the Arrangement is preferable to other transaction structures because the Arrangement (i) is the most direct and effective way to enable the Purchaser to acquire ownership and control of all of the Subordinate Voting Shares and the Multiple Voting Shares at the same time, (ii) represents an opportunity for the Shareholders (other than the Rollover Shareholders) to immediately realize the value of their investment in the Company, with price certainty at a significant and attractive premium on the Subordinate Voting Shares of approximately 56% to the closing price of the Subordinate Voting Shares on the Nasdaq on March 15, 2024, the last trading day prior to media reports regarding a potential transaction involving the Company and a premium of approximately 48% to the 90-day volume weighted average trading price per Subordinate Voting Share as of such date, and (iii) also allows Philip Fayer (directly and indirectly through WPF) to maintain a significant portion and allows Novacap and CDPQ to maintain a portion, of their respective equity investment in the Company to preserve and expand upon the long-term strategy, vision and core values of Nuvei. In the course of considering the going-private


transaction, the Purchaser Filing Parties did not actively consider alternative transaction structures because the Purchaser Filing Parties believed no other alternatives would enable them to achieve the same objectives.”

 

2.

The following paragraph under Item 7(a) is hereby added:

“The Purchaser Filing Parties believe the Arrangement is preferable to other transaction structures because the Arrangement (i) is the most direct and effective way to enable the Purchaser to acquire ownership and control of all of the Subordinate Voting Shares and the Multiple Voting Shares at the same time, (ii) represents an opportunity for the Shareholders (other than the Rollover Shareholders) to immediately realize the value of their investment in the Company, with price certainty at a significant and attractive premium on the Subordinate Voting Shares of approximately 56% to the closing price of the Subordinate Voting Shares on the Nasdaq on March 15, 2024, the last trading day prior to media reports regarding a potential transaction involving the Company and a premium of approximately 48% to the 90-day volume weighted average trading price per Subordinate Voting Share as of such date, and (iii) also allows Philip Fayer (directly and indirectly through WPF) to maintain a significant portion and allows Novacap and CDPQ to maintain a portion, of their respective equity investment in the Company to preserve and expand upon the long-term strategy, vision and core values of Nuvei. In the course of considering the going-private transaction, the Purchaser Filing Parties did not consider alternative transaction structures because the Purchaser Filing Parties believed no other alternatives would enable them to achieve the same objectives.”

 

3.

Item 7(a) is hereby amended and supplemented as follows:

 

   

The historical trading prices of the Subordinate Voting Shares, including the 52-week high trading prices of the Subordinate Voting Shares, are above the Consideration.

 

4.

Item 7(a) is hereby amended and supplemented as follows:

None of the Purchaser Filing Parties has made any purchases of Subordinate Voting Shares in the past two years and, as a result, the Purchaser Filing Parties did not consider purchase prices for the Subordinate Voting Shares in prior purchases. The Purchaser Filing Parties were not aware of any firm offer by any unaffiliated person in the past two years for a merger, consolidation or purchase of a substantial part of the Company’s assets or securities other than the proposals provided by Advent, Advent/Co-Investor and, in the case of the Rollover Shareholders, Bidder B.

 

5.

The following paragraph under Item 7(a) is hereby deleted:

“Likewise, the Purchaser Filing Parties did not consider liquidation value in determining the reasonableness and fairness of the Arrangement to the unaffiliated security holders because the Purchaser Filing Parties expect to continue to operate Nuvei’s business as a going concern.”

 

6.

The following paragraph under Item 7(a) is hereby added:

“Likewise, the Purchaser Filing Parties did not consider liquidation value in determining the reasonableness and fairness of the Arrangement to the unaffiliated security holders because the Purchaser Filing Parties expect to continue to operate Nuvei’s business as a viable, going concern and, as a result, did not consider liquidation value to be relevant.”

ITEM 10. SOURCE AND AMOUNTS OF FUNDS OR OTHER CONSIDERATION.

(a)-(b)

 

1.

The following paragraph under Item 10(a)-(b) is hereby deleted:

“Concurrently with the execution of the Arrangement Agreement, the Purchaser delivered to the Company a debt commitment letter (together with all exhibits, schedules, annexes and term sheets attached thereto, and as amended, modified, amended and restated or otherwise replaced from time to time after the date of the Arrangement Agreement in compliance with the Arrangement Agreement, the “Debt Commitment Letter,”), pursuant to which a syndicate of lenders (collectively, the “Debt Financing Sources”) have committed to provide to the Purchaser, subject to the terms and conditions therein, senior secured syndicated credit facilities in an initial aggregate principal amount of $3,150 million (the “Debt Financing”), consisting of (i) a senior secured term loan in a principal amount of up to $2,550 million (the “Term Facility”) and (ii) a senior secured loan revolving facility in an aggregate principal amount of $600 million (the “Revolving Facility,” and together with the Term Facility, the “Credit Facilities”). The Term Facility is expected to mature on the seven-year anniversary of the Effective Date. The Revolving Facility is expected to mature on the five-year anniversary of the Effective Date. The Term Facility is expected to amortize quarterly, starting with the second full fiscal quarter ending after the Effective Date, in installments equal to 0.25% of the original principal amount of the Term Facility, with the balance of the Term Facility being due and payable at maturity. The proceeds of the Term Facility shall be used exclusively to finance the Arrangement, including any related fees, premiums, expenses and other transaction costs incurred in connection with the Arrangement and the transactions relating thereto, to refinance the Existing BMO Facility and to provide cash to the Company’s balance sheet. All advances under the Revolving Facility may be used by the Purchaser (a) on the Effective Date, (i) to finance the transactions contemplated by the Arrangement Agreement and the Plan of Arrangement, (ii) for general corporate purposes, (iii) to fund the fees under the Fee Letter, or (iv) to refinance any revolving facility under the existing credit agreement and to cash collateralize any existing letter of credit or similar instruments, and (b) after the Effective Date, to finance working capital needs and other general corporate purposes and for any other purposes not prohibited by the definitive documentation evidencing the Credit Facilities.

The obligation of the Debt Financing Sources to provide the Credit Facilities is subject to customary limited conditions, specific to each of the Credit Facilities, which are set forth in the Debt Commitment Letter, including the following: the consummation of the Arrangement substantially concurrently with the Debt Financing, the completion of the minimum equity contribution, the accuracy of certain of the borrower’s representations and warranties under the Credit Facilities and certain of the Company’s representations and warranties in the Arrangement Agreement in all material respects, and the absence of a Material Adverse Effect that is continuing.

 

2.

The following paragraph under Item 10(a)-(b) is hereby added:

“Concurrently with the execution of the Arrangement Agreement, the Purchaser delivered to the Company a debt commitment letter (together with all exhibits, schedules, annexes and term sheets attached thereto, and as amended, modified, amended and restated or otherwise replaced from time to time after the date of the Arrangement Agreement in compliance with the Arrangement Agreement, the “Debt Commitment Letter,”), pursuant to which BMO Capital Markets Corp., Royal Bank of Canada, RBC Capital Markets, Capital One, National Association, Citizens Bank, N.A., Fifth Third Bank, National Association, Goldman Sachs Bank USA, KeyBank National Association, KeyBanc Capital Markets Inc., The Bank of Nova Scotia, UBS AG, Stamford Branch, UBS Securities LLC, Wells Fargo Bank, N.A. and Wells Fargo Bank, N.A., Canadian Branch, Wells Fargo Securities, LLC, Bank of America, N.A., BofA Securities, Inc., National Bank of Canada, National Bank of Canada Financial Inc., Citigroup Global Markets Inc., Citibank, N.A., Citicorp USA, Inc., Citicorp North America, Inc., Jefferies Finance LLC, BNP Paribas, BNP Paribas Securities Corp., MUFG Bank, Ltd., MUFG Securities Americas Inc., Mizuho Bank, Ltd. and Banco Santander, S.A., New York Branch and/or any affiliate, subsidiary or branch of any of the foregoing (collectively, the “Debt Financing Sources”) have committed to provide to the Purchaser, subject to the terms and conditions therein, senior secured syndicated credit facilities in an initial aggregate principal amount of $3,150 million (the “Debt Financing”), consisting of (i) a senior secured term loan in a principal amount of up to $2,550 million (the “Term Facility”) and (ii) a senior secured loan revolving facility in an aggregate principal amount of $600 million (the “Revolving Facility,” and together with the Term Facility, the “Credit Facilities”). The Term Facility is expected to mature on the seven-year anniversary of the Effective Date. The Revolving Facility is expected to mature on the five-year anniversary of the Effective Date. The Term Facility is expected to amortize quarterly, starting with the second full fiscal quarter ending after the Effective Date, in installments equal to 0.25% of the original principal amount of the Term Facility, with the balance of the Term Facility being due and payable at


maturity. The interest rates applicable to each of the Term Facility and the Revolving Facility will be determined as part of the syndication of the Credit Facilities, and are expected to be consistent with similar syndicated loans that price in the syndicated loan market at the time at which the Credit Facilities are marketed. The terms of the loan documentation shall otherwise be consistent with those terms customary for similar debt financings and as are set forth on the term sheet attached as an exhibit to the Debt Commitment Letter, including customary affirmative and negative covenants, representations and warranties and events of default. The proceeds of the Term Facility shall be used exclusively to finance the Arrangement, including any related fees, premiums, expenses and other transaction costs incurred in connection with the Arrangement and the transactions relating thereto, to refinance the Existing BMO Facility and to provide cash to the Company’s balance sheet. All advances under the Revolving Facility may be used by the Purchaser (a) on the Effective Date, (i) to finance the transactions contemplated by the Arrangement Agreement and the Plan of Arrangement, (ii) for general corporate purposes, (iii) to fund the fees under the Fee Letter, or (iv) to refinance any revolving facility under the existing credit agreement and to cash collateralize any existing letter of credit or similar instruments, and (b) after the Effective Date, to finance working capital needs and other general corporate purposes and for any other purposes not prohibited by the definitive documentation evidencing the Credit Facilities.

The obligation of the Debt Financing Sources to provide the Credit Facilities is subject to customary limited conditions, specific to each of the Credit Facilities, which are set forth in the Debt Commitment Letter, including the following: the consummation of the Arrangement substantially concurrently with the Debt Financing, the completion of the minimum equity contribution, the accuracy of certain of the borrower’s representations and warranties under the Credit Facilities and certain of the Company’s representations and warranties in the Arrangement Agreement in all material respects, the absence of a Material Adverse Effect that is continuing and the preparation and execution of customary loan documentation.”

ITEM 11. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.

(a) Item 11(a) is hereby amended and supplemented as follows:

As of May 14, 2024, the date of the Initial Schedule 13E-3, none of the Purchaser Filing Parties, the Company or any of the directors or executive officers of the Company or the Purchaser Filing Parties set forth in Appendix H to the Circular owned any subject securities, except for the subject securities owned by the Rollover Shareholders as specified under the heading “Information Concerning the Meeting and Voting –Principal Shareholders” in the Circular and for the subject securities owned by directors and executive officers of the Company as specified under the heading “Information Concerning Nuvei –Ownership of Securities” in the Circular.

ITEM 15. ADDITIONAL INFORMATION.

(c) Item 15(c) is hereby amended as follows:

 

1.

The following paragraph under Item 15(c) is hereby deleted:

“The information contained in this Circular concerning the Purchaser, Philip Fayer, Novacap, CDPQ and their respective associates and affiliates, including such information under the heading “Special Factors –Background to the Arrangement,” has been provided by the Purchaser, Philip Fayer, Novacap and CDPQ, respectively, for inclusion in this Circular. Although the Company has no knowledge that any statement contained herein taken from, or based on, such information and records or information provided by the Purchaser, Philip Fayer, Novacap or CDPQ is untrue or incomplete, the Company assumes no responsibility for the accuracy of the information contained in such documents, records or information or for any failure by the Purchaser, Philip Fayer, Novacap or CDPQ to disclose events which may have occurred or may affect the significance or accuracy of any such information but which are unknown to the Company.”

 

2.

The following paragraph under Item 15(c) is hereby added:

“The information contained in this Circular concerning the Purchaser, Philip Fayer, Novacap, CDPQ and their respective associates and affiliates, including such information under the heading “Special Factors –Background to the Arrangement,” has been provided by the Purchaser, Philip Fayer, Novacap and CDPQ, respectively, for inclusion in this Circular. Although the Company has no knowledge that any statement contained herein taken from, or based on, such information and records or information provided by the Purchaser, Philip Fayer, Novacap or


CDPQ is untrue or incomplete, the Company assumes no responsibility for any failure by the Purchaser, Philip Fayer, Novacap or CDPQ to disclose events which may have occurred or may affect the significance or accuracy of any such information but which are unknown to the Company.”

 

3.

The following paragraph under Item 15(c) is hereby deleted:

“All information regarding the Purchaser and the other Purchaser Filing Parties contained in this Circular, including any such information under the heading “Special Factors – Background to the Arrangement,” has been provided by the relevant Purchaser Filing Party, unless otherwise indicated. Although the Company has no knowledge that any statement contained herein taken from, or based on, such information and records or information provided by the Purchaser Filing Parties is untrue or incomplete, the Company assumes no responsibility for the accuracy of the information contained in such documents, records or information or for any failure by the Purchaser Filing Parties to disclose events which may have occurred or may affect the significance or accuracy of any such information but which are unknown to the Company. Any inaccuracy or material omission in the information provided by the Purchaser Filing Parties for inclusion in this Circular could result in unanticipated liabilities or expenses, increase the cost of the Arrangement or adversely affect the current and future operations, financial condition and prospects of the Company.”

 

4.

The following paragraph under Item 15(c) is hereby added:

“All information regarding the Purchaser and the other Purchaser Filing Parties contained in this Circular, including any such information under the heading “Special Factors – Background to the Arrangement,” has been provided by the relevant Purchaser Filing Party, unless otherwise indicated. Although the Company has no knowledge that any statement contained herein taken from, or based on, such information and records or information provided by the Purchaser Filing Parties is untrue or incomplete, the Company assumes no responsibility for any failure by the Purchaser Filing Parties to disclose events which may have occurred or may affect the significance or accuracy of any such information but which are unknown to the Company. Any inaccuracy or material omission in the information provided by the Purchaser Filing Parties for inclusion in this Circular could result in unanticipated liabilities or expenses, increase the cost of the Arrangement or adversely affect the current and future operations, financial condition and prospects of the Company.”

ITEM 16. EXHIBITS.

 

Exhibit No.  

Description

(a)(2)(i)*   Management Information Circular of Nuvei Corporation, dated May 13, 2024.
(a)(2)(ii)*   Form of Proxy for the holders of multiple voting shares.
(a)(2)(iii)*   Form of Proxy for the holders of subordinate voting shares.
(a)(2)(iv)*   Letter of Transmittal.
(a)(2)(v)*   Letter to Shareholders of the Company (incorporated herein by reference to the Circular).
(a)(2)(vi)*   Notice of Special Meeting of Shareholders (incorporated herein by reference to the Circular).
(a)(2)(vii)*   Press Release, dated April 1, 2024 (incorporated by reference to Exhibit 99.1 to Nuvei’s report on Form 6-K submitted to the SEC on April 1, 2024).
(b)(i)*   Equity Commitment Letter, dated April 1, 2024, by and among Neon Maple Purchaser Inc. and the funds party thereto.
(b)(ii)   Amended and Restated Commitment Letter, dated April 19, 2024, by and among Neon Maple Purchaser Inc. and the lenders party thereto.
(c)(i)*   Formal Valuation and Fairness Opinion of TD Securities Inc., dated April  1, 2024 (incorporated by reference to Appendix C of the Circular).
(c)(ii)*   Fairness Opinion of Barclays Capital Inc., dated April 1, 2024 (incorporated by reference to Appendix D of the Circular).
(c)(iii)*   Special Committee Discussion Materials Provided by TD Securities Inc. to the Special Committee on January 16, 2024.
(c)(iv)*   Special Committee Discussion Materials Provided by TD Securities Inc. to the Special Committee on February 8, 2024.
(c)(v)*   Special Committee Discussion Materials Provided by TD Securities Inc. to the Special Committee on February 27, 2024.
(c)(vi)*   Special Committee Discussion Materials Provided by TD Securities Inc. to the Special Committee on March 31, 2024.
(c)(vii)*   Discussion Materials Provided by Barclays Capital Inc. to the Board of Directors on April 1, 2024.
(c)(viii)   Discussion Materials Provided by Barclays Capital Inc. to the Board of Directors on December 18, 2023.


Exhibit No.  

Description

(d)(1)*   Arrangement Agreement, dated April  1, 2024, between Neon Maple Purchaser Inc. and Nuvei Corporation (incorporated by reference to Exhibit 99.1 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).
(d)(2)*   Plan of Arrangement under the Canada Business Corporations Act (incorporated herein by reference to Appendix B of the Circular).
(d)(3)*   Limited Guarantee, dated as of April 1, 2024, executed by the funds party thereto in favor of the Company.
(e)(i)*   Support and Voting Agreement, dated April  1, 2024, among Philip Fayer, Whiskey Papa Fox Inc. and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.2 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April  2, 2024).
(e)(ii)*   Support and Voting Agreement, dated April  1, 2024, among Novacap TMT IV, L.P., Novacap International TMT IV, L.P., NVC TMT IV, L.P., Novacap TMT V, L.P., Novacap International TMT V, L.P., Novacap TMT V-A, L.P., NVC TMT V, L.P., NVC TMT V-A, L.P., Novacap TMT V Co-Investment (Nuvei), L.P. and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.3 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).
(e)(iii)*   English translation of Support and Voting Agreement, dated April  1, 2024, between Caisse de dépôt et placement du Québec and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.4 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).
(e)(iv)*   Support and Voting Agreement, dated April  1, 2024, between Coretha Rushing and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.5 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).
(e)(v)*   Support and Voting Agreement, dated April  1, 2024, between Daniela Mielke and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.6 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).
(e)(vi)*   Support and Voting Agreement, dated April  1, 2024, between David Lewin and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.7 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).
(e)(vii)*   Support and Voting Agreement, dated April  1, 2024, between David Schwartz and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.8 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).
(e)(viii)*   Support and Voting Agreement, dated April  1, 2024, between Lindsay Matthews and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.9 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).
(e)(ix)*   Support and Voting Agreement, dated April  1, 2024, between Maren Lau and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.10 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).
(e)(x)*   Support and Voting Agreement, dated April  1, 2024, between Pascal Tremblay and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.11 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).
(e)(xi)*   Support and Voting Agreement, dated April  1, 2024, between Samir Zabaneh and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.12 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).
(e)(xii)*   Support and Voting Agreement, dated April  1, 2024, between Scott Calliham and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.13 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).


(e)(xiii)*

   Support and Voting Agreement, dated April  1, 2024, between Timothy A. Dent and Neon Maple Purchaser Inc. (incorporated by reference to Exhibit 99.14 to Nuvei Corporation’s report on Form 6-K submitted to the SEC on April 2, 2024).

(e)(ix)*

   Share Transfer Agreement, dated April  1, 2024, among Novacap TMT IV, L.P., Novacap International TMT IV, L.P., NVC TMT IV, L.P., Novacap TMT V, L.P., Novacap International TMT V, L.P., Novacap TMT V-A, L.P., NVC TMT V, L.P., NVC TMT V-A, L.P., Novacap TMT V Co-Investment (Nuvei), L.P., Novacap TMT VI, L.P., Novacap International TMT VI, L.P., Novacap International VI-A, L.P., NVC TMT VI, L.P., NVC TMT VI-A, L.P., NVC TMT VI (S.P.), L.P., NVC TMT VI-A (S.P.), L.P., NVC International TMT VI, L.P., Neon Maple Purchaser Inc. and Neon Maple Parent Inc. (incorporated by reference to Exhibit 99.7 to Nuvei Corporation’s report on Schedule 13D submitted to the SEC on April 8, 2024).

(e)(x)*

   English translation of Share Transfer Agreement, dated April  1, 2024, between Caisse de dépôt et placement du Québec, Neon Maple Purchaser Inc. and Neon Maple Parent Inc. (incorporated by reference to Exhibit 99.8 to Nuvei Corporation’s report on Schedule  13D submitted to the SEC on April 8, 2024).

(e)(ix)*

   Share Transfer and Incentive Award Exchange Agreement, dated April  1, 2024, among Philip Fayer, Whiskey Papa Fox Inc., Neon Maple Purchaser Inc. and Neon Maple Parent Inc. (incorporated by reference to Exhibit 99.9 to Nuvei Corporation’s report on Schedule 13D submitted to the SEC on April 8, 2024).

(f)(i)*

   Interim Order (incorporated herein by reference to Appendix E to the Circular)

(f)(ii)*

   Section 190 of the Canada Business Corporations Act (incorporated herein by reference to Appendix G of the Circular).

107*

   Filing Fee Table.

 

*

Previously filed.

[Remainder of Page Intentionally Left Blank]


SIGNATURES

After due inquiry and to the best of our knowledge and belief, the undersigned hereby certify that the information set forth in this statement is true, complete and correct.

 

     Nuvei Corporation
Date: June 4, 2024      By:   

/s/ Lindsay Matthews

        Name: Lindsay Matthews
        Title: General Counsel
    

Advent International, L.P.

By: Advent International GP, LLC, General Partner

Date: June 4, 2024      By:   

/s/ Neil Crawford

        Name: Neil Crawford
        Title: Vice President of Finance—Fund Administration
     Neon Maple Purchaser Inc.
Date: June 4, 2024      By:   

/s/ Ben Scotto

        Name: Ben Scotto
        Title: President
     Neon Maple Holdings Inc.
Date: June 4, 2024      By:   

/s/ Ben Scotto

        Name: Ben Scotto
        Title: President
     Neon Maple Midco Inc.
Date: June 4, 2024      By:   

/s/ Ben Scotto

        Name: Ben Scotto
        Title: President
     Neon Maple Parent Inc.
Date: June 4, 2024      By:   

/s/ Ben Scotto

        Name: Ben Scotto
        Title: President
    

Advent International GPE X Limited Partnership

By: GPE X GP Limited Partnership, General Partner

By: Advent International GPE X, LLC, General Partner

By: Advent International, L.P., Manager

By: Advent International GP, LLC, General Manager

Date: June 4, 2024      By:   

/s/ Neil Crawford

        Name: Neil Crawford
        Title: Vice President of Finance—Fund Administration


  

AI Maple Holdings, L.P.

By: AI Maple Holdings GP Limited, General Partner

Date: June 4, 2024    By:   

/s/ Bo Huang

      Name: Bo Huang
      Title: Director
  

AI Maple Aggregator, L.P.

By: AI Maple Holdings GP Limited, General Partner

Date: June 4, 2024    By:   

/s/ Bo Huang

      Name: Bo Huang
      Title: Director
   AI Maple Holdings GP Limited
Date: June 4, 2024    By:   

/s/ Bo Huang

      Name: Bo Huang
      Title: Director
   Caisse de dépôt et placement du Québec
Date: June 4, 2024    By:   

/s/ Jacques Marchand

      Name: Jacques Marchand
      Title: Vice President, Private Large Capitalizations – Quebec
Date: June 4, 2024    By:   

/s/ Catherine Beauchemin

      Name: Catherine Beauchemin
      Title: Senior Director, Private Equity, Quebec
   Novacap Management Inc.
Date: June 4, 2024    By:   

/s/ Pascal Tremblay

      Name: Pascal Tremblay
      Title: President and CEO, Managing Partner
   Philip Fayer
Date: June 4, 2024    By:   

/s/ Philip Fayer

   Whiskey Papa Fox Inc.
Date: June 4, 2024    By:   

/s/ Philip Fayer

      Name: Philip Fayer
      Title: President & Secretary