PLEASANTON, Calif. and
PALO ALTO, Calif., Nov. 10, 2021 /PRNewswire/ -- Pathfinder
Acquisition Corporation (NASDAQ: PFDR) ("Pathfinder"), a publicly
traded special purpose acquisition company, co-sponsored by
affiliates of HGGC and Industry Ventures, and ServiceMax, Inc.
("ServiceMax"), a leader in asset-centric field service management
software, today announced that the U.S. Securities and Exchange
Commission (the "SEC") has declared effective Pathfinder's
registration statement on Form S-4 (File No. 333-258769) relating
to the previously announced proposed business combination of
Pathfinder and ServiceMax (the "Business Combination").
Pathfinder will mail shareholders as of November 3, 2021 (the "Record Date") the
definitive proxy statement/prospectus relating to the Extraordinary
General Meeting of Pathfinder Shareholders (the "Extraordinary
General Meeting"), to be held on December 7,
2021 at 10:00 am ET.
Shareholders are encouraged to vote in advance of the Extraordinary
General Meeting and will have until December
6, 2021 at 11:59 pm ET to do
so. Voting in advance is easy and can be done in one of three ways:
online, via telephone or by mail. All Pathfinder shareholders as of
the Record Date are encouraged to vote for the transaction.
Details of the Extraordinary General Meeting
The Extraordinary General Meeting to approve the pending
Business Combination between Pathfinder and ServiceMax, among other
items, is scheduled for December 7,
2021, at 10:00 am ET. The
Extraordinary General Meeting will be held at 190 Elgin Avenue,
George Town, Grand Cayman,
Cayman Islands, KY1-9001, and
virtually via live webcast at
https://www.cstproxy.com/pathfinderacquisition/2021. Holders of
Pathfinder ordinary shares as of the close of business on the
Record Date may vote at or before the Extraordinary General Meeting
and are encouraged to vote before 11:59 pm
ET on December 6, 2021.
Pathfinder has filed with the SEC a definitive proxy
statement/prospectus relating to the Extraordinary General Meeting
and will mail the proxy statement/prospectus to shareholders who
owned Pathfinder ordinary shares as of the Record Date.
Pathfinder shareholders can exercise their votes in advance of
the Extraordinary General Meeting online, via telephone or by mail.
Pathfinder shareholders who need assistance voting or have
questions regarding the Extraordinary General Meeting may contact
Pathfinder's proxy solicitor, Morrow Sodali, toll-free at (203)
658-9400 or email Morrow Sodali at
PFDR@investor.morrowsodali.com.
If certain of the proposals at the Extraordinary General Meeting
are approved, the parties anticipate the Business Combination will
close shortly thereafter, subject to the satisfaction or waiver (as
applicable) of all other closing conditions.
Upon the closing of the Business Combination, the combined
company will be named ServiceMax, Inc. The parties expect that the
Class A common stock and warrants of the combined company will be
listed on the NASDAQ under the ticker symbols "SMAX" and "SMAXW,"
respectively.
Recent ServiceMax Business Highlights
- Closed acquisition of LiquidFrameworks on November 1, 2021, which advances ServiceMax's
Field Service Management capabilities in the energy sector. The
acquisition was financed with cash on hand and a new $100mm term
loan.
- Named a Leader in the Gartner Magic Quadrant for Field Service
Management for the 6th consecutive year based on ServiceMax's
completeness of vision and ability to execute.
- Signed new deal with a leading equipment rentals company
serving the construction, industrial, energy, infrastructure, and
government sectors. This deal provides more than 8,000 ServiceMax
licenses to enable improved asset visibility, cost reduction and
increased revenues.
- Signed new deal with leading provider of medical diagnostic
imaging and healthcare information technology. For this customer,
ServiceMax is enabling a transition to a cloud-based solution with
visibility into contracts, warranties, and entitlements to reduce
contract leakage around service and parts.
- Signed additional customer wins and expansions across a variety
of industries including a threat detection and security screening
technologies provider, a pharmaceutical and medical device company,
an industrial IoT solutions provider, a flight simulation company,
and a technology company focused on imaging for business.
- Named Sophie Ames as Chief Human
Resources Officer and appointed two new members to ServiceMax's
Board of Directors: Felicia Alvaro,
the Independent Director and Audit Committee Chair of Cornerstone
on Demand; and Callie Field, the
Executive Vice President and Chief Customer Experience Officer for
T-Mobile.
About ServiceMax
ServiceMax's mission is to help customers keep the world running
with asset-centric field service management software. As a
recognized leader in this space, ServiceMax's mobile apps and
cloud-based software provide a complete view of assets to field
service teams. By optimizing field service operations, customers
across all industries can better manage the complexities of
service, support faster growth and run more profitable,
outcome-centric businesses. For more information, visit
www.servicemax.com.
On July 15, 2021, ServiceMax
announced plans to merge with Pathfinder to become a publicly
traded company. Consummation of the Business Combination is subject
to customary closing conditions, including approval by Pathfinder's
shareholders.
About Pathfinder
Pathfinder is a purpose-built partnership between affiliates of
two investment firms with a strong record of success as investors
in technology and tech-enabled businesses: HGGC, a leading
middle-market private equity firm based in Palo Alto, and Industry Ventures, a leading
multi-strategy venture capital platform based in San Francisco. Pathfinder's corporate
objective is to identify and execute a business combination with a
high quality, growth-oriented private company in the tech sector
that Pathfinder believes can succeed as a public company and
generate attractive returns for shareholders over the long
term.
Forward-Looking Statements
This communication contains forward-looking statements that are
based on beliefs and assumptions and on information currently
available to ServiceMax and Pathfinder. In some cases, you can
identify forward-looking statements by the following words: "may,"
"will," "could," "would," "should," "expect," "intend," "plan,"
"anticipate," "believe," "estimate," "predict," "project,"
"potential," "continue," "ongoing," "target," "seek" or the
negative or plural of these words, or other similar expressions
that are predictions or indicate future events or prospects,
although not all forward looking statements contain these words.
Any statements that refer to expectations, projections or other
characterizations of future events or circumstances, including
strategies or plans as they relate to the Business Combination or
the consummation of the Business Combination itself, are also
forward-looking statements. These statements involve risks,
uncertainties and other factors that may cause actual results,
levels of activity, performance or achievements to be materially
different from the information expressed or implied by these
forward-looking statements. ServiceMax and Pathfinder cannot assure
you that the forward-looking statements in this communication will
prove to be accurate. These forward-looking statements are subject
to a number of risks and uncertainties, including those included
under the heading "Risk Factors" in the registration statement on
Form S-4 filed by Pathfinder with the SEC and those included under
the heading "Risk Factors" in the final prospectus filed by
Pathfinder on February 18, 2021
relating to Pathfinder's initial public offering and in its
subsequent periodic reports and other filings with the SEC. In
light of the significant uncertainties in these forward-looking
statements, you should not regard these statements as a
representation or warranty by Pathfinder, ServiceMax, their
respective directors, officers or employees or any other person
that Pathfinder and ServiceMax will achieve their objectives and
plans in any specified time frame, or at all. The forward-looking
statements in this communication represent the views of ServiceMax
and Pathfinder as of the date of this communication. Subsequent
events and developments may cause that view to change. However,
while ServiceMax and Pathfinder may elect to update these
forward-looking statements at some point in the future, there is no
current intention to do so, except to the extent required by
applicable law. You should, therefore, not rely on these
forward-looking statements as representing the views of ServiceMax
or Pathfinder as of any date subsequent to the date of this
communication.
Important Additional Information Regarding the Transaction
Will Be Filed With the SEC
Pathfinder has filed a definitive proxy statement and a form of
proxy card with the SEC in connection with the solicitation of
proxies for the Extraordinary Meeting of the Pathfinder's
shareholders (the "Definitive Proxy Statement"). Investors
and security holders may obtain a free copy of the Definitive Proxy
Statement, any amendments or supplements to the Definitive Proxy
Statement and other documents filed by Pathfinder with the SEC from
the SEC's website at www.sec.gov. Security holders and other
interested parties will also be able to obtain, without charge, a
copy of the Definitive Proxy Statement, any amendments or
supplements to the Definitive Proxy Statement and other documents
(when available) by directing a request to: Pathfinder Acquisition
Corporation, 1950 University Avenue, Suite 350, Palo Alto, California.
Participants in the Solicitation
Pathfinder and ServiceMax and their respective directors,
executive officers, other members of management, and employees,
under SEC rules, may be deemed to be participants in the
solicitation of proxies of Pathfinder's shareholders in connection
with the Business Combination. Investors and security holders may
obtain more detailed information regarding the names and interests
in the Business Combination of Pathfinder's and ServiceMax's
directors and officers in the Definitive Proxy Statement and
Pathfinder's other filings with the SEC made subsequent to the date
of the Definitive Proxy Statement. To the extent holdings of
Pathfinder's securities by such directors or officers have changed
since the amounts printed in the Definitive Proxy Statement, such
changes have been or will be reflected on Initial Statements of
Beneficial Ownership on Form 3 or Statements of Changes in
Beneficial Ownership on Form 4 filed with the SEC. Additional
information regarding the identity of potential participants, and
their direct or indirect interests, by security holdings or
otherwise, is set forth in the Definitive Proxy Statement and other
materials to be filed with the SEC in connection with the
Extraordinary Meeting of Pathfinder's shareholders.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the Business Combination and does not constitute an
offer to sell or a solicitation of an offer to buy any securities
of Pathfinder or ServiceMax, nor shall there be any sale of any
such securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of the Securities Act.
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SOURCE Pathfinder Acquisition Corporation