Ropes & Gray Advises Sezzle Inc. in its Agreement to be Acquired by Zip Co. Limited

Ropes & Gray advised Sezzle Inc. in its definitive agreement to be acquired by Zip Co. Limited. The transaction is expected to close in the third quarter of 2022. The agreement was announced on Feb. 28 in a press release.

Sezzle stockholders will be entitled to receive 0.98 Zip ordinary shares for every share of Sezzle common stock. The total consideration for Sezzle shares in the proposed transaction represents an implied value of approximately AUS$491 million or US$352.6 million. Minneapolis-based Sezzle is a “buy now, pay later” company that operates a payment platform that increases the purchasing power for millions of consumers by offering interest-free instalment plans at online stores and in-store locations. Zip, based in Sydney, Australia, is also a “buy now, pay later” provider.

The Ropes & Gray team that advised Sezzle was led by mergers & acquisitions partner Jane Goldstein, and included capital markets partner Craig Marcus, tax partner David Saltzman (all of Boston), antitrust partner Chong Park (Washington, D.C.), benefits partner Renata Ferrari, IP transactions partner Erica Han, commercial & securities litigation partners Peter Welsh (all Boston) and Martin Crisp (New York), capital markets partner Rachel Phillips (New York), litigation & enforcement counsel Joseph Rafferty (New York) and private equity counsel James Kaplan (Boston).