Latest news with #Acrisure
Yahoo
24-06-2025
- Business
- Yahoo
UCF Knights football stadium name change approved by board of trustees
Now, it's official. UCF's board of trustees unanimously approved the FBC Mortgage Stadium name change during its meeting on June 12. The new moniker: the Acrisure Bounce House. That broke earlier this week when the agenda for the meeting, which listed the name, was posted online. But talks of a change have swirled since Acrisure bought FBC Mortgage in 2024. Advertisement Knights athletic director Terry Mojahir commented on the matter at the Big 12's spring meetings last month, mentioning Acrisure wanted to modify the name. He introduced the topic at the board of trustees meeting. "We believe Acrisure Bounce House allows us to maintain the spirit and excitement of the Bounce House while continuing the partnership with the company that shares our growth and mindset and long-term vision," Mojahir said Thursday. FBC Mortgage reached a 10-year naming rights agreement worth $19.5 million with UCF in 2022. GETTING TO KNOW YOU: 5 things to know about Charlie Jilek, UCF commit and Michigan multi-sport athlete Advertisement Let's break down the new name and everything behind it. Why did UCF change its football stadium name to Acrisure Bounce House? Acrisure acquired FBC Mortgage in April 2024. FBC Mortgage will officially transition to Acrisure Mortgage on July 1. When does the UCF football stadium name change take effect? Just like the FBC Mortgage to Acrisure Mortgage switch, the new stadium name will go into effect on July 1. But really, the 2025 football season is the important upcoming marker. The university will remove current signage and hang updated versions with the new moniker in the coming weeks. How many names has the UCF football stadium had? Nov 24, 2017; Orlando, FL, USA; A wide angle view of a sold out stadium in a game between the UCF Knights and the South Florida Bulls during the second half at Spectrum Stadium. Mandatory Credit: Reinhold Matay-USA TODAY Sports This is the fifth name since the building opened in 2007. Advertisement During the first 10 years of its existence, it went by Bright House Networks Stadium. It shifted to Spectrum Stadium from 2017 to 2020. The Bounce House rose from nickname to official title in 2020 and 2021 when the Spectrum naming rights deal expired and no successor materialized. FBC Mortgage filled the void in 2022. Now, the venue will adopt the Acrisure Bounce House label. Why is UCF's football stadium called the Bounce House? Sep 9, 2022; Orlando, Florida, USA; UCF Knights fans get loud before the game against the Louisville Cardinals at FBC Mortgage Stadium. Mandatory Credit: Mike Watters-USA TODAY Sports The Bounce House earned its nickname shortly after it was built. When fans jump in union, the stadium shakes. Independent contractors reviewed the structure and determined it was sound. They ensured UCF the bouncing would not damage or shorten the building's lifespan. Advertisement Reinforcements were added before the 2008 season to lessen the bouncing effect. The nickname stuck, though. "Congratulations for getting the name 'Bounce House' officially in there," board member Stephen King said. "That's big." "If they didn't approve, I wasn't sure what we were going to call it," Mohajir responded with a chuckle. "But where it landed is phenomenal," King said, "so thank you for whatever it took to get that in there." (This story has been updated to add new information.) This article originally appeared on The Daytona Beach News-Journal: UCF football stadium name change approved: Acrisure Bounce House
Yahoo
06-06-2025
- Business
- Yahoo
Acrisure Announces Pricing of Notes Offering
GRAND RAPIDS, Mich., June 06, 2025--(BUSINESS WIRE)--Acrisure, LLC (the "Company") and Acrisure Finance, Inc. (together with the Company, the "Issuers") announced today the pricing of $550,000,000 aggregate principal amount of 6.750% secured senior notes due 2032 (the "notes"). The Issuers intend to use a portion of the net proceeds from the notes offering, together with the proceeds from a new tranche of refinancing term loans in an aggregate principal amount of approximately $1,343,000,000, the proceeds from a new tranche of incremental term loans in an aggregate principal amount of approximately $457,000,000, and cash on hand, to refinance all outstanding 2024 Repricing Term B-1 Loans (as defined in the First Lien Credit Agreement, dated November 22, 2016 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "Credit Agreement")), repay all outstanding Revolving Credit Loans (as defined in the Credit Agreement), fund future acquisitions and pay related fees and expenses. The notes are expected to be issued at an issue price of 100% and will be fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Acrisure Intermediate, Inc. and each of its existing and future wholly-owned domestic restricted subsidiaries to the extent such subsidiary guarantees the Company's senior secured credit facilities, existing secured notes and existing unsecured notes. The notes offering is expected to close on June 20, 2025, subject to customary closing conditions. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), any state securities laws or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Accordingly, the notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Acrisure A global fintech leader, Acrisure empowers millions of ambitious businesses and individuals with the right solutions to grow boldly forward. Bringing cutting-edge technology and top-tier human support together, it connects clients with customized solutions across a range of insurance, reinsurance, payroll, benefits, cybersecurity, real estate services – and beyond. In the last eleven years, Acrisure has grown in revenue from $38 million to almost $5 billion and employs over 19,000 colleagues in 23 countries. And this is just the beginning. Forward-Looking Statements This press release contains "forward-looking statements" which are subject to certain risks, trends and uncertainties. In particular, statements made that are not historical facts may be forward-looking statements. Words such as "should," "may," "will," "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "contemplates" and similar expressions identify forward-looking statements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Such forward-looking statements include statements regarding the intention to issue new notes and to use offering proceeds to repay outstanding debt and fund acquisitions. Such forward-looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update any forward-looking statements. View source version on Contacts Analyst Inquiries:Kent SnyderV.P., Finance & Capital Markets(616) 510-5293ksnyder@ Media Inquiries: Kate Dillon(646) 818-9115kdillon@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-06-2025
- Business
- Yahoo
Acrisure Announces Proposed Notes Offering
GRAND RAPIDS, Mich., June 05, 2025--(BUSINESS WIRE)--Acrisure, LLC (the "Company") and Acrisure Finance, Inc. (together with the Company, the "Issuers") announced today that they plan to offer, subject to market conditions, approximately $750,000,000 aggregate principal amount of secured senior notes due 2032 (the "notes"). The Issuers intend to use a portion of the net proceeds from the notes offering, together with the proceeds from a new tranche of refinancing term loans in an aggregate principal amount of approximately $1,343,000,000, the proceeds from a new tranche of incremental term loans in an aggregate principal amount of approximately $257,000,000, and cash on hand, to refinance all outstanding 2024 Repricing Term B-1 Loans (as defined in the First Lien Credit Agreement, dated November 22, 2016 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "Credit Agreement")), repay all outstanding Revolving Credit Loans (as defined in the Credit Agreement), fund future acquisitions and pay related fees and expenses. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), any state securities laws or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Accordingly, the notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Acrisure A global fintech leader, Acrisure empowers millions of ambitious businesses and individuals with the right solutions to grow boldly forward. Bringing cutting-edge technology and top-tier human support together, it connects clients with customized solutions across a range of insurance, reinsurance, payroll, benefits, cybersecurity, real estate services – and beyond. In the last eleven years, Acrisure has grown in revenue from $38 million to almost $5 billion and employs over 19,000 colleagues in 23 countries. And this is just the beginning. Forward-Looking Statements This press release contains "forward-looking statements" which are subject to certain risks, trends and uncertainties. In particular, statements made that are not historical facts may be forward-looking statements. Words such as "should," "may," "will," "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "contemplates" and similar expressions identify forward-looking statements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Such forward-looking statements include statements regarding the intention to issue new notes and to use offering proceeds to repay outstanding debt and fund acquisitions. Such forward-looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update any forward-looking statements. View source version on Contacts Analyst Inquiries: Kent SnyderV.P., Finance & Capital Markets(616) 510-5293ksnyder@ Media Inquiries: Kate Dillon(646) 818-9115kdillon@
Business Wire
05-06-2025
- Business
- Business Wire
Acrisure Announces Proposed Notes Offering
GRAND RAPIDS, Mich.--(BUSINESS WIRE)--Acrisure, LLC (the 'Company') and Acrisure Finance, Inc. (together with the Company, the 'Issuers') announced today that they plan to offer, subject to market conditions, approximately $750,000,000 aggregate principal amount of secured senior notes due 2032 (the 'notes'). The Issuers intend to use a portion of the net proceeds from the notes offering, together with the proceeds from a new tranche of refinancing term loans in an aggregate principal amount of approximately $1,343,000,000, the proceeds from a new tranche of incremental term loans in an aggregate principal amount of approximately $257,000,000, and cash on hand, to refinance all outstanding 2024 Repricing Term B-1 Loans (as defined in the First Lien Credit Agreement, dated November 22, 2016 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the 'Credit Agreement')), repay all outstanding Revolving Credit Loans (as defined in the Credit Agreement), fund future acquisitions and pay related fees and expenses. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act'), any state securities laws or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Accordingly, the notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Acrisure A global fintech leader, Acrisure empowers millions of ambitious businesses and individuals with the right solutions to grow boldly forward. Bringing cutting-edge technology and top-tier human support together, it connects clients with customized solutions across a range of insurance, reinsurance, payroll, benefits, cybersecurity, real estate services – and beyond. In the last eleven years, Acrisure has grown in revenue from $38 million to almost $5 billion and employs over 19,000 colleagues in 23 countries. And this is just the beginning. Forward-Looking Statements This press release contains 'forward-looking statements' which are subject to certain risks, trends and uncertainties. In particular, statements made that are not historical facts may be forward-looking statements. Words such as 'should,' 'may,' 'will,' 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' 'contemplates' and similar expressions identify forward-looking statements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Such forward-looking statements include statements regarding the intention to issue new notes and to use offering proceeds to repay outstanding debt and fund acquisitions. Such forward-looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update any forward-looking statements.
Finextra
29-05-2025
- Business
- Finextra
Global Payments to sell payroll unit for $1.1bn
Global Payments continues to simplify its business, agreeing to offload its payroll unit to fintech Acrisure for $1.1 billion. 0 The divestiture is the latest step Global Payments has taken to position itself as a pure play merchant solutions provider, shedding non-core businesses. In April it agreed a blockbuster deal to buy Worldpay from GTRC and FIS for $22.7 billion while offloading its Issuer Solutions business to FIS for $13.5 billion. Last year, it also sold its medical software business AdvancedMD for $1.13 billion. "I am pleased with the progress we are making with our transformation program as we move aggressively to simplify our business and enhance value for shareholders," says Cameron Bready, CEO, Global Payments. In connection with the payroll transaction, Global Payments has entered into a mutual referral agreement and long-term commercial partnership with Acrisure in which it will continue delivering human capital management and payroll offerings to its merchant customers. Proceeds of the deal - set to close the second half subject to regulatory approval - will be used to return capital to shareholders.
