Paysafe Ltd. Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>Paysafe Ltd. has submitted its 20-F annual report detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Paysafe Ltd (PSEWF) filed a Foreign Annual Report (20-F) with the SEC on March 20, 2024. Paysafe Ltd. filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing covers financial data and business operations for the period. Key financial components such as Property, Plant, and Equipment Net, Derivative Assets (Noncurrent), and Payments to Acquire Businesses (Gross) are detailed. The report includes specific details on various financial instruments and assets, including Secured Notes, Settlement Receivables Net, and Derivative Financial Assets. Geographical components and specific subsidiaries like Skrill USA are mentioned within the reporting period.

Why It Matters

For investors and stakeholders tracking Paysafe Ltd, this filing contains several important signals. This 20-F filing provides a comprehensive overview of Paysafe's financial health and strategic positioning for investors and stakeholders. The detailed breakdown of assets, liabilities, and financial instruments offers insights into the company's risk management and operational strategies.

Risk Assessment

Risk Level: medium — Paysafe Ltd shows moderate risk based on this filing. The filing is a standard annual report (20-F), which typically contains a broad range of financial and operational information, but lacks specific forward-looking guidance or immediate material events that would elevate the risk level beyond medium.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F to understand Paysafe's financial position and potential future challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-20 — Filed As Of Date (Date the report was filed)
• 130 — Public Document Count (Number of documents in the filing)
• 001-40302 — SEC File Number (SEC file number for Paysafe Ltd.)

Key Players & Entities

• Paysafe Ltd. (company) — Filer of the 20-F report
• 20-F (filing) — Form type filed by Paysafe Ltd.
• 2024-03-20 (date) — Filing date of the 20-F report
• 2023-12-31 (date) — Fiscal year end date for the report
• 0000950170-24-033944 (filing) — Accession number for the filing
• Skrill USA (company) — Subsidiary mentioned in the filing
• EUR (currency) — Currency mentioned in financial details
• USD (currency) — Currency mentioned in financial details

FAQ

Risk Factors

• Financial Instruments and Assets [medium — financial]: The filing details various financial instruments and assets, including Secured Notes, Settlement Receivables Net, and Derivative Financial Assets, indicating potential financial risks and exposures.
• Geographical Components and Subsidiaries [medium — operational]: Specific mention of geographical components and subsidiaries like Skrill USA suggests operational focus and potential risks associated with specific regions or business units.

Key Dates

• 2024-03-20: Filing of 20-F Annual Report — Provides the latest financial and operational overview for the fiscal year 2023.
• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the financial data presented.

Key Financial Figures

• $0.001 — to receive one common share, par value $0.001 per share (prior to "Reverse Stock Spli
• $0.012 — alue of our common stock from $0.001 to $0.012 per share, but did not modify any votin
• $138.00 — itle the holder thereof to purchase for $138.00 per share one Company Common Share in l
• $0.0001 — ans the Class A common stock, par value $0.0001 per share, of FTAC. "FTAC Class B Com

Filing Documents

• psfe-20231231.htm (20-F) — 4372KB
• psfe-ex2_3.htm (EX-2.3) — 211KB
• psfe-ex4_13.htm (EX-4.13) — 276KB
• psfe-ex8_1.htm (EX-8.1) — 21KB
• psfe-ex12_1.htm (EX-12.1) — 9KB
• psfe-ex12_2.htm (EX-12.2) — 9KB
• psfe-ex13_1.htm (EX-13.1) — 6KB
• psfe-ex13_2.htm (EX-13.2) — 6KB
• psfe-ex15_1.htm (EX-15.1) — 3KB
• psfe-ex97_1.htm (EX-97.1) — 109KB
• psfe-ex99_1.htm (EX-99.1) — 4KB
• img115062750_0.jpg (GRAPHIC) — 5KB
• img145429409_0.jpg (GRAPHIC) — 3KB
• img145429409_1.jpg (GRAPHIC) — 22KB
• img145429409_2.jpg (GRAPHIC) — 14KB
• 0000950170-24-033944.txt (&nbsp;) — 18662KB
• psfe-20231231.xsd (EX-101.SCH) — 2352KB
• psfe-20231231_htm.xml (XML) — 3638KB

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 101 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 101 PART II 101 Item 13. Defaults, Dividend Arrearages and Delinquencies 101 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 101 Item 15. Control and Procedures 101 Item 16A. Audit Committee Financial Expert 103 Item 16B. Code of Ethics 103 Item 16C. Principal Accountant Fees and Services 103 Item 16D. Exemptions from the Listing Standards for Audit Committees 104 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 104 Item 16F. Change in Registrant's Certifying Accountant 104 Item 16G. Corporate Governance 104 Item 16H. Mine Safety Disclosure 105 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 105 Item 16J. Insider Trading Policies 105 Item 16K. Cybersecurity 105 PART III 107 Item 17.

Financial Statements

Financial Statements 107 Item 18.

Financial Statements

Financial Statements 107 Item 19. Exhibits 108 INDEX TO FINANCIAL STATEMENTS F- 1 i EXPLA NATORY NOTE On December 7, 2020, Foley Trasimene Acquisition Corp. II, a Delaware corporation ("FTAC"), Paysafe Limited, an exempted limited company incorporated under the laws of Bermuda ("Paysafe Limited"), Merger Sub Inc., a Delaware corporation and direct, wholly owned subsidiary of Paysafe Limited ("Merger Sub"), Paysafe Bermuda Holding LLC, a Bermuda exempted limited liability company (the "LLC"), Pi Jersey Holdco 1.5 Limited, a private limited company incorporated under the laws of Jersey, Channel Islands (the "Accounting Predecessor"), and Paysafe Group Holdings Limited, a private limited company incorporated under the laws of England and Wales ("PGHL"), entered into the Agreement and Plan of Merger (the "Merger Agreement"). Pursuant to the Merger Agreement, among other things, (i) Merger Sub would merge with and into FTAC, with FTAC being the surviving corporation in the merger and an indirect subsidiary of Paysafe Limited ("Merger") and each outstanding publicly traded share of FTAC Class A Common Stock and FTAC Class B Common Stock (other than certain excluded shares) would convert into the right to receive one common share, par value $0.001 per share (prior to "Reverse Stock Split" described below) of Paysafe Limited ("Company Common Shares"), (ii) PGHL would transfer and contribute the Accounting Predecessor to the Company in exchange for Company Common Shares and cash and (iii) each of FTAC's publicly traded warrants that are outstanding immediately prior to the Effective Time of the Merger would, pursuant to and in accordance with the warrant agreement covering such warrants, automatically and irrevocably be modified to provide that such warrant will no longer entitle the holder thereof to purchase the amount of share(s) of FTAC common stock set forth therein and in substitution thereof such warrant will entitle the holder thereof to acquire the

View Full Filing

View this 20-F filing on SEC EDGAR