Brief: Schultze Special Purpose Acquisition Corp. Announces A Definitive Agreement To Combine With Clever Leaves

Clever Global SA

27/07/2020 14:15

July 27 (Reuters) - Schultze Special Purpose Acquisition
Corp  SAMAU.O :
    * SCHULTZE SPECIAL PURPOSE ACQUISITION CORP. ANNOUNCES A
DEFINITIVE AGREEMENT TO COMBINE WITH CLEVER LEAVES, A
LARGE-SCALE PHARMACEUTICAL-GRADE MULTI-NATIONAL CANNABIS
OPERATOR
    * SCHULTZE SPECIAL PURPOSE ACQUISITION CORP - TRANSACTION IS
VALUED AT A FULLY DILUTED ENTERPRISE VALUE OF APPROXIMATELY $255
MILLION
    * SCHULTZE SPECIAL PURPOSE ACQUISITION CORP - COMBINED
COMPANY IS
ANTICIPATED TO TRADE ON NASDAQ UNDER SYMBOL "CLVR"
    * SCHULTZE SPECIAL PURPOSE ACQUISITION CORP - CLEVER LEAVES'
SHAREHOLDERS WILL BE ROLLING OVER 96% OF THEIR EQUITY OWNERSHIP
INTO HOLDCO
    * SCHULTZE SPECIAL PURPOSE ACQUISITION CORP - CLEVER LEAVES
WILL
HAVE AN EARN OUT OF UP TO 1.8 MILLION SHARES REFLECTING AN
ALIGNMENT OF INTERESTS AND LIMITED DILUTION

Source text for Eikon:  ID:nBw1BqG0da 
Further company coverage:  SAMAU.O 

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