GloriFi Announces Business Combination with DHC Acquisition Corp.

Winston & Strawn LLP is representing With Purpose, Inc. (d/b/a GloriFi), a financial services firm, in its announced business combination with DHC Acquisition Corp., a special purpose acquisition company. Dallas, Texas-based GloriFi is developing a comprehensive suite of financial services, including credit cards, digital banking products, insurance, mortgage, and brokerage services, with perks and benefits linked to conservative causes. The combined company is expected to trade on the Nasdaq under the symbol “GLRI” once the deal is completed in the first quarter of 2023. The proposed business combination would provide approximately US$279M to GloriFi’s balance sheet from DHC’s trust after expenses, which will be used to execute on management’s strategic growth initiatives. The transaction values the combined company, to be renamed “GloriFi” upon closing, at a pro forma enterprise value of approximately US$1.7B at a price of US$10.00 per share, assuming no redemptions by holders of DHC Class A common shares. GloriFi’s existing equity holders will roll forward 100% of their existing shares.