Brief: Haymaker Updates Terms Of Business Combination With OneSpaWorld

biote

08/01/2019 14:24

Jan 8 (Reuters) - Haymaker Acquisition Corp  HYAC.O :
    * HAYMAKER ACQUISITION SAYS OSW CONTINUES TO EXPECT 2018
OPERATING
PERFORMANCE IN LINE WITH NOV. 1 EXPECTATIONS
    * OSW CONTINUES TO EXPECT TO REPORT $535 MILLION IN REVENUE
AND
$56 MILLION IN ADJUSTED EBITDA IN 2018
    * HAYMAKER UPDATES TERMS OF BUSINESS COMBINATION WITH
ONESPAWORLD
    * DEAL PRO FORMA NET LEVERAGE REDUCED
    * ONESPAWORLD MANAGEMENT REAFFIRMS FORECASTED OPERATING
PERFORMANCE
    * TRANSACTION IS NOW VALUED AT APPROXIMATELY $850 MILLION AT
CLOSING
    * RESPECTIVE BOARDS OF DIRECTORS OF BOTH HAYMAKER AND OSW
HAVE
UNANIMOUSLY APPROVED AMENDED BUSINESS COMBINATION AGREEMENT
    * L CATTERTON WILL RETAIN A SIGNIFICANT EQUITY STAKE IN
COMBINED
COMPANY THROUGH ITS INVESTMENT IN STEINER.
    * CO, ONESPAWORLD AMENDED THEIR DEFINITIVE BUSINESS
COMBINATION
AGREEMENT DUE TO RECENT MARKET PERFORMANCE

Source text for Eikon:  ID:nGNX9c7Bk3 
Further company coverage:  HYAC.O 

 ((Reuters.Briefs@thomsonreuters.com;))