Kidpik jumps on deal to merge with Nina Footwear

Kidpik

02/04/2024 13:28

** Shares of online kids clothing co Kidpik  PIK.O  up 45.7%
at $6.33 premarket
    ** Kidpik on Monday announced an all-stock merger agreement
with shoe designer Nina Footwear
    ** Upon closing of the merger, the combined company will be
renamed Nina Holding Corp and its symbol will change to "NINA"
    ** Ezra Dabah, CEO of Kidpik and Nina Footwear, his children
and wife are expected to continue to control about 76.8% of the
combined company's voting shares following the closing of the
merger
    ** "Our transaction is expected to increase Kidpik's
revenue, cashflow and prospects, while also strengthening
Kidpik's balance sheet and significantly increasing stockholder
value" - Dabah 
    ** Up to last close, stock has more than doubled YTD 

 (Reporting by Atharva Singh in Bengaluru)
 ((Atharva.singh@thomsonreuters.com))