Brief: OrderYOYO Joins Forces With app smart

Orderyoyo A/S

17/06/2022 07:31

June 17 (Reuters) - OrderYOYO A/S  YOYO.CO :
    * ORDERYOYO IS JOINING FORCES WITH APP SMART GMBH
    * ORDERYOYO AND APP SMART HAVE REACHED AGREEMENT TO COMBINE
TWO
COMPANIES IN TRANSACTION
    * IN THE TRANSACTION, ORDERYOYO WILL ACQUIRE APP SMART AND
APP
SMART SHAREHOLDERS WILL BECOME SHAREHOLDERS IN ORDERYOYO
    * COMBINED COMPANY WILL TARGET AN ANNUALIZED DECEMBER 2022
ARR OF
DKK 175-190M AND AN ANNUALIZED DECEMBER 2022 GMV OF DKK
2,050-2,200M
    * NET REVENUE FOR 2022 WITH APP SMART CONSOLIDATED FROM 1
JULY
2022 IS EXPECTED TO BE DKK 135-150M AND EBITDA FOR 2022 IS
EXPECTED AT DKK (10)-0M
    * IT IS GOAL FOR COMBINED ENTITY TO SERVICE MORE THAN 25,000
RESTAURANT PARTNERS BY END 2025
    * TRANSACTION VALUES SHARE CAPITAL OF APP SMART AT DKK 222M,
WHICH
WILL BE FINANCED VIA ISSUANCE OF NEW SHARES IN ORDERYOYO TO
SELLERS AND A CASH PAYMENT
    * CLOSING OF TRANSACTION IS EXPECTED TO OCCUR ON JULY 1,
2022

Source text for Eikon:  ID:nWkr7FmGxd 
Further company coverage:  YOYO.CO 

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