Alight to pay down debt with business combination proceeds

By Taylor Fox

New York, Jan. 25 – Alight Inc., the combined company of Alight Solutions and Foley Trasimene Acquisitions Corp., plans to pay down debt with proceeds from its definitive business combination agreement, according to an 8-K filing with the Securities and Exchange Commission.

Net leverage will be approximately 3.1x at the close of the transaction and will support significant cash flow generation and flexibility to pursue opportunistic M&A going forward, the company said.

Alight is a Lincolnshire, Ill.-based provider of integrated, cloud-based human capital solutions, and Foley is a special purpose acquisition company based in Las Vegas.

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