Brief: Delta Corp Holdings Limited, A Fast Growing Asset-Light Logistics Company Enters Into A Definitive Merger And Share Exchange Agreement With Coffee Holding Co., Inc.

Coffee Holding

30/09/2022 13:39

Sept 30 (Reuters) - Coffee Holding Co Inc  JVA.O :
    * DELTA CORP HOLDINGS LIMITED, A FAST GROWING ASSET-LIGHT
LOGISTICS COMPANY ENTERS INTO A DEFINITIVE MERGER AND SHARE
EXCHANGE AGREEMENT WITH COFFEE HOLDING CO., INC.
    * COFFEE HOLDING CO INC - COMBINED PUBLIC COMPANY TO HAVE AN
IMPLIED DILUTED PRO FORMA ENTERPRISE VALUE OF APPROXIMATELY $655
MILLION
    * COFFEE HOLDING - UNDER AGREEMENT COFFEE HOLDING AND DELTA
WILL
EACH BECOME WHOLLY OWNED SUBSIDIARIES OF A NEWLY CREATED HOLDING
COMPANY
    * COFFEE HOLDING CO INC - DELTA SHAREHOLDERS WILL BECOME
MAJORITY
SHAREHOLDERS OF PUBCO
    * COFFEE HOLDING CO INC - COMBINED COMPANY WILL CONTINUE
UNDER
PUBCO, AND EXPECTS TO TRADE ON NASDAQ UNDER TICKER SYMBOL "DLOG"
    * COFFEE HOLDING CO INC - COMBINED CO WILL CONTINUE TO
OPERATE
UNDER DELTA MANAGEMENT TEAM
    * COFFEE HOLDING - COFFEE HOLDING, AS UNIT OF PUBCO, TO
CONTINUE
TO BE OPERATED UNDER LEADERSHIP OF ANDREW GORDON, CURRENTLY
COFFEE HOLDING'S PRESIDENT, CEO
    * COFFEE HOLDING - UNDER AGREEMENT, SHAREHOLDERS OF COFFEE
HOLDINGS TO GET 1 ORDINARY SHARE OF PUBCO FOR EACH SHARE OF
COFFEE HOLDINGS COMMON STOCK THEY OWN
    * COFFEE HOLDING -  DELTA SHAREHOLDERS TO EXCHANGE SHARES OF
DELTA
FOR $625 MILLION IN ORDINARY SHARES OF PUBCO AT IMPLIED DILUTED
VALUE PER SHARE OF $5.50
    * COFFEE HOLDING - POST CLOSING OF DEAL, SHAREHOLDERS OF
DELTA
ANTICIPATED TO COLLECTIVELY OWN ABOUT 95.21% OF OUTSTANDING
ORDINARY SHARES OF PUBCO

Source text for Eikon:  ID:nGNX8JsN0b 
Further company coverage:  JVA.O 
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