Apollo Global-backed Spartan Acquisition II completed the merger with Sunlight Financial in a $1.3bn deal.

Apollo Global-backed Spartan Acquisition II, a publicly-traded special purpose acquisition company, completed the merger with Sunlight Financial, a US residential solar financing platform, in a $1.3bn deal. Upon the closing of the transaction, existing Sunlight equity holders own approximately 50% of the combined company, Spartan stockholders own c. 26%, and PIPE participants own c. 19%. “As demand for residential solar and battery storage solutions continues to grow, Sunlight is well-positioned to extend its lead as the point-of-sale technology platform of choice and provide frictionless financing for solar and home improvement customers, contractors and capital providers. We look forward to further scaling our business and executing on our strategic goals to deliver sustainable and profitable growth and create long-term value for our stockholders,” Matt Potere, Sunlight CEO.