MoneyGram and Madison Dearborn Partners Announce Merger Transaction Is Expected To Close On Or before June 1, 2023; Shares Halt On Circuit Breaker To The Upside, Stock Now Up 6%

MoneyGram International, Inc. (NASDAQ:MGI) ("MoneyGram" or the "Company"), a leading global financial technology company that connects the world's communities, today provided an update on its previously announced agreement (the "Merger Agreement") to be acquired by funds affiliated with Madison Dearborn Partners, LLC ("MDP").

Today, the parties received approval from the Reserve Bank of India. As a result, all money transmission regulators in all applicable domestic and international jurisdictions have now provided their approval or non-objection of the transaction.  All other regulatory conditions to closing had previously been met.

MoneyGram and MDP will commence the financing marketing period pursuant to the Merger Agreement and work to finalize all other pre-closing activities. Pursuant to the Merger Agreement, the marketing period may last for as long as fifteen consecutive business days. The transaction is expected to close on or before June 1, 2023.