On September 15, 2021, The Goldman Sachs Group, Inc. and GreenSky, Inc. announced that they have entered into a definitive agreement pursuant to which Goldman Sachs will acquire GreenSky, the largest fintech platform for home improvement consumer loan originations, in an all-stock transaction valued at approximately $2.24 billion. GreenSky’s differentiated lending capabilities and market-leading merchant and consumer ecosystem will help accelerate the efforts of Goldman Sachs to create the consumer banking platform of the future, help tens of millions of customers take control of their financial lives, and drive higher, more durable returns. Wilson Sonsini is representing the special committee of the GreenSky board of directors in the transaction.

As part of the agreement, GreenSky stockholders will receive 0.03 shares of common stock of Goldman Sachs for each share of GreenSky Class A common stock. Based on the closing share price of Goldman Sachs common stock as of September 14, 2021, this represents a per share price for GreenSky Class A common stock of $12.11 and an implied transaction value of approximately $2.24 billion.

The boards of directors of Goldman Sachs and GreenSky have approved the transaction. The board of directors of GreenSky, acting upon the unanimous recommendation of a special committee composed of independent directors of the board, recommends that GreenSky stockholders approve the transaction and adopt the merger agreement. The transaction, which is anticipated to close in the fourth quarter of 2021 or the first quarter of 2022, is subject to approval by GreenSky stockholders, the receipt of required regulatory approvals, and satisfaction of other customary closing conditions.

The Wilson Sonsini team representing the special committee of GreenSky’s board of directors in the transaction includes William Chandler, Amy Simmerman, James Griffin-Stanco, and Jason Schoenberg.

For more information, please see the Goldman Sachs press release.