Brief: Spear Point And Silverback To Provide Details On Non-Binding Offer To Acquire Rite Aid In The First Data-Backed Leveraged Buyout

Silverback United

21/04/2022 20:24

April 21 (Reuters) - Spear Point Capital Management:
    * SPEAR POINT AND ITS DATA VALUATION/MONETIZATION PARTNER
SILVERBACK TO PROVIDE DETAILS ON NON-BINDING OFFER TO ACQUIRE
RITE AID IN THE FIRST DATA-BACKED LEVERAGED BUYOUT
    * SPEAR POINT - IN ITS TERM SHEET, SPEAR POINT OFFERED TO
ENLIST
SILVERBACK'S SERVICES TO VALUE RITE AID'S DATA AS PART OF ITS
DUE DILIGENCE PROCESS
    * SPEAR POINT - TO HOST WEBINAR TO EXPLAIN TERMS OF SPEAR
POINT'S
RECENT PROPOSAL TO ACQUIRE RITE AID IN TAKE-PRIVATE TRANSACTION
VALUED AT ABOUT $3.6 BILLION
    * SPEAR POINT-OFFERED TO SHARE VALUATION WITH BOARD OF RITE
AID,
ALLOW COMPANY TO SEEK A HIGHER VALUE AFTER DATA VALUATION HAD
BEEN PRESENTED
    * SPEAR POINT - ON APRIL 28, 2022, SPEAR POINT AND
SILVERBACK WILL
HOST A JOINT WEBINAR
    * SPEAR POINT - NOTED SILVERBACK, MADE PRELIM DETERMINATION
THAT
RITE AID'S DATA MAY HAVE SIGNIFICANT VALUE THAT COULD EXCEED
EQUITY VALUE OF RITE AID

Source text for Eikon:  ID:nGNX44ykPG 
Further company coverage:  MLCG.PK 

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