System1 Announces Amendment to Fully Backstop Business Combination With Trebia Acquisition Corp.

LOS ANGELES, Jan. 10, 2022 (GLOBE NEWSWIRE) -- System1 (together with Protected.net Group, “System1” or the “Company”), an omnichannel customer acquisition marketing platform, today announced certain amendments to its previously announced business combination (the “Business Combination”) with Trebia Acquisition Corp. (“TREB” or “Trebia”) (NYSE: TREB), a special purpose acquisition company formed by entities affiliated with William P. Foley II and Frank Martire Jr. The amendments provide for a fully-backstopped transaction to cover any redemptions by Trebia’s public shareholders prior to closing through additional committed financing from Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae”) and committed equity rollover from System1 management.

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