DigitalBridge to acquire Wafra's 31.5% stake in IM unit for $800M; transitions to C-Corp

DigitalBridge Group, Inc.

Considers 57.7M shares of DBRG common stock plus $390M cash, subject to closing adjustments.
Earnout up to $125M based on $4B-$6B FEEUM raised by Dec 2023; 50% may be paid in stock.
Deal boosts DigitalBridge's FRE share to 100%; expects ~$38M additional run-rate FRE (46% increase).
Board approves transition to conventional C-Corp; company will not be REIT in 2022.
Wafra's CIO Adel Alderbas to serve as Senior Advisor for three years post-close.

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