Brief: Onespaworld And Haymaker Announce Business Combination

biote

01/11/2018 21:24

Nov 1 (Reuters) - Haymaker Acquisition Corp  HYAC.O :
    * ONESPAWORLD AND HAYMAKER ANNOUNCE BUSINESS COMBINATION
    * HAYMAKER ACQUISITION CORP - COMBINED COMPANY EXPECTED TO
BE
LISTED ON NASDAQ STOCK MARKET
    * HAYMAKER ACQUISITION CORP - LEONARD FLUXMAN AND GLENN
FUSFIELD
OF ONESPAWORLD TO LEAD COMBINED COMPANY
    * HAYMAKER ACQUISITION CORP - PROPOSED DEAL FOR TRANSACTION
IS
VALUED AT $948 MILLION
    * HAYMAKER ACQUISITION - DEAL WILL BE FUNDED THROUGH A
COMBINATION
OF CASH IN HAYMAKER'S TRUST ACCOUNT, BORROWINGS, PROCEEDS FROM
PRIVATE PLACEMENT
    * HAYMAKER ACQUISITION CORP - L CATTERTON WILL RETAIN A
SIGNIFICANT EQUITY STAKE IN COMBINED COMPANY THROUGH ITS
INVESTMENT IN STEINER
    * HAYMAKER ACQUISITION CORP - L CATTERTON WILL RETAIN A
SIGNIFICANT EQUITY STAKE IN COMBINED COMPANY THROUGH ITS
INVESTMENT IN STEINER
    * HAYMAKER ACQUISITION CORP - OSW'S SENIOR MANAGEMENT WILL
CONTINUE TO SERVE IN THEIR CURRENT ROLES ON DEAL CLOSE
    * HAYMAKER ACQUISITION CORP - STEVEN HEYER, CEO AND CHAIRMAN
OF
HAYMAKER, WILL ASSUME ROLE OF VICE CHAIRMAN ON CLOSE
    * HAYMAKER ACQUISITION CORP - RESPECTIVE BOARDS OF DIRECTORS
OF
BOTH HAYMAKER AND OSW HAVE UNANIMOUSLY APPROVED PROPOSED
TRANSACTION
    * HAYMAKER ACQUISITION CORP - OSW EXPECTS TO GENERATE
APPROXIMATELY $535 MILLION IN REVENUE AND OVER $26 MILLION IN
PRO FORMA ADJUSTED NET INCOME IN 2018
    * HAYMAKER ACQUISITION CORP - FOR 2019 OSW FORECASTS REVENUE
OF
OVER $570 MILLION AND APPROXIMATELY $33 MILLION IN PRO FORMA
ADJUSTED NET INCOME

Source text for Eikon:  ID:nGNX6tVGxH 
Further company coverage:  HYAC.O 

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