portfolio services group it its sole discretion to be warranted and appropriate. BMP may, at any time, choose not to provide any such services. Such services will be provided without charge,
other than for the reimbursement of related out-of-pocket expenses incurred by BMP and its affiliates.
Note 11. Subsequent Events
Transaction between Legacy Vivint Smart Home and Vivint Smart Home
On January 17, 2020 (the Closing Date), the Company consummated the previously announced merger pursuant to that certain
Agreement and Plan of Merger, dated September 15, 2019, by and among the Company, Maiden Merger Sub, Inc., its subsidiary (Merger Sub), and Legacy Vivint Smart Home, Inc. (f/k/a Vivint Smart Home, Inc.) (Legacy Vivint Smart
Home), as amended by Amendment No. 1 to the Agreement and Plan of Merger (the Amendment and as amended, the Merger Agreement), dated as of December 18, 2019, by and among the Company, Maiden Sub and Legacy
Vivint Smart Home.
Pursuant to the terms of the Merger Agreement, a business combination between the Company and Legacy Vivint Smart
Home was effected through the merger of Merger Sub with and into Legacy Vivint Smart Home, with Legacy Vivint Smart Home surviving as the surviving company (the Merger). At the effective time of the Merger (the Effective
Time), each stockholder of Legacy Vivint Smart Home received 84.5320916792 shares of the Companys Class A common stock, par value $0.0001 per share (the Common Stock), for each share of Legacy Vivint Smart Home common
stock, par value $0.01 per share, that such stockholder owned.
Pursuant in each case to a Subscription Agreement entered into in
connection with the Merger Agreement, certain investment funds managed by affiliates of Fortress Investment Group LLC (Fortress) and certain investment funds affiliated with The Blackstone Group Inc. (Blackstone) purchased,
respectively, 12,500,000 and 10,000,000 newly-issued shares of Common Stock (such purchases, the Fortress PIPE and the Blackstone PIPE, respectively, and together, the PIPE) concurrently with the completion of the
Merger (the Closing) on the Closing Date for an aggregate purchase price of $125,000,000 and $100,000,000, respectively. The founder shares automatically converted into Common Stock at Closing, on a one-for-one basis, subject to adjustment. The private placement warrants will expire five years after the Closing or earlier upon redemption or liquidation.
In connection with the execution of the Amendment, the Company entered into a Subscription and Backstop Agreement (the Fortress
Subscription and Backstop Agreement) with Fortress, pursuant to which Fortress committed to (i) purchase $50,000,000 in aggregate purchase price of shares of the Companys Common Stock in the open market, subject to applicable law,
(ii) backstop redemptions by subscribing for a number of shares of newly-issued shares of the Companys Common Stock at a purchase price per share equal to the per-share value of our trust account at
the time of any such redemptions and (iii) subscribe for up to $50,000,000 (less the aggregate purchase price of the shares purchased by it in the open market and to backstop redemptions) in aggregate purchase price of newly-issued shares of
the Companys Common Stock at a purchase price of $10.00 per share to be issued at the Companys election at the Closing. On the Closing Date, pursuant to the Fortress Subscription and Backstop Agreement, Fortress purchased 2,698,753
shares of Common Stock for an aggregate of $27.8 million. In connection with the Closing, 31,074,592 shares of Common Stock were redeemed at a per price share of approximately $10.29.
In addition, the Company entered into an additional subscription agreement (the Additional Forward Purchaser Subscription
Agreement) with one of the forward purchasers (the Forward Purchaser). Pursuant to the Additional Forward Purchaser Subscription Agreement, immediately prior to the Effective Time, the Forward Purchaser purchased from us 5,000,000
shares of Common Stock at a purchase price of $10.00 per share. As consideration for the additional investment, 25% of Mosaic Sponsor LLCs founder shares and private placement warrants were forfeited to the Company and the Company issued to
the Forward Purchaser an equal number of shares of Common Stock and warrants concurrently with the Closing.
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