Vivint Smart Home and Mosaic Acquisition Corp. Complete Merger

Vivint Smart Home, Inc. (“Vivint”) and Mosaic Acquisition Corp. (NYSE: MOSC; “Mosaic”), today announced the completion of the previously announced transaction between Vivint and Mosaic, which results in Vivint becoming a publicly traded company. The transaction is one of the largest U.S. SPAC mergers ever with an enterprise value of $4.2 billion, including additional equity of $488 million.

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Mosaic shareholders approved the transaction at a special meeting earlier today. The combined company will be named Vivint Smart Home and will trade under the ticker symbol VVNT on the New York Stock Exchange beginning Tuesday, January 21, 2020. Existing Vivint investors and new investors supporting the transaction include affiliates of Blackstone and Fortress Investment Group LLC, and anchor investors of Mosaic.

Vivint’s management team, led by Founder and Chief Executive Officer Todd Pedersen and President Alex Dunn, will continue to lead the combined company. David Maura, Executive Chairman and Chief Executive Officer of Mosaic, will join the combined company’s Board of Directors.

“In a market where it is difficult to find value, Vivint presents a unique opportunity to invest in the rapidly expanding home automation space,” said David Maura. “Vivint’s smart home technology empowers the customer to control the entire home from one app, and its offering is delivered with a customer-focused approach to sales, installation and service. In contrast to many competitors, Vivint owns its entire data stack, and the company has built a competitive moat by seamlessly merging the digital and physical worlds. I have made a significant personal investment in Vivint and I look forward to serving on the Board as Todd, Alex and the team lead the company through its next phase of growth and development.”

“Completing our merger with Mosaic and becoming a publicly traded company is an important milestone for Vivint,” said Todd Pedersen. “With the new capital from this transaction, we will strengthen our balance sheet and continue to invest to support our mission of helping families live more conveniently and intelligently with Vivint’s smart home platform. As we begin our next chapter, Vivint is well positioned to achieve our goal of redefining the home experience.”