Brief: Global Partner Acquisition and Purple Innovation LLC enter into LOI

Stardust Power

27/07/2017 13:03

July 27 (Reuters) - Global Partner Acquisition Corp  GPAC.O  
    * Global partner acquisition - co, purple innovation llc 
entered into loi, pursuant to which purple would become a 
publicly traded company - sec filing 
    * Global partner acquisition-gpac, purple intend to enter 
agreement, pursuant to which gpac would acquire purple based on 
an enterprise value of $1.1 billion   
    * Global partner acquisition - purple founders terry and 
tony pearce to retain majority shareholder position in combined 
public co 
    * Global partner acquisition - sam bernards to be ceo of 
combined co 
    * Global partner-to pay part of purchase price to equity 
holders, anticipated to be about $90 million, remainder to be 
paid in rollover equity interests in combined co 
 
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Further company coverage:  GPAC.O  
 
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