Canadian fintech company Nuvei Corporation (TSX:NVEI) has reported its financial results for the three months ended September 30, 2024.

In the third quarter of 2024, total volume increased by 27% to $61.3 billion from $48.2 billion in the year-ago period.

Revenue increased by 17% year-on-year to $357.6 million from $304.9 million.

Net income increased to $17.2 million from a net loss of $18.1 million a year ago.

Net income per diluted share increased to $0.10 from a net loss per diluted share of $0.14.

Let’s recall that on April 1, 2024, Nuvei entered into a definitive arrangement agreement to be taken private by Advent International, in an all-cash transaction which values the Company at an enterprise value of approximately $6.3 billion.

Advent will acquire all the issued and outstanding Subordinate Voting Shares and any Multiple Voting Shares that are not Rollover Shares, for a price of $34.00 per Share, in cash.

The Proposed transaction was approved by shareholders at a special meeting held on June 18, 2024 and received court approval on June 20, 2024. The Proposed transaction remains subject to customary closing conditions, including receipt of key regulatory approvals, is not subject to any financing condition and, assuming the timely receipt of all required key regulatory approvals, is expected to close in the fourth quarter of 2024.

Following completion of the transaction, it is expected that the Subordinate Voting Shares will be delisted from each of the Toronto Stock Exchange and the Nasdaq and that Nuvei will cease to be a reporting issuer in all applicable Canadian jurisdictions and will deregister the Subordinate Voting Shares with the U.S. Securities and Exchange Commission (SEC).