Brief: Breeze Holdings Acquisition Corp. Announces Definitive Agreement To Merge With TV Ammo, Inc.

YD Bio

01/11/2022 11:00

Nov 1 (Reuters) - Breeze Holdings Acquisition Corp
 BREZ.O :
    * . ANNOUNCES DEFINITIVE AGREEMENT TO MERGE WITH TV AMMO,
INC.
    * BREEZE HOLDINGS - COMBINED COMPANY IS EXPECTED TO HAVE
APPROXIMATELY $76.8 MILLION IN CASH WITH AN ESTIMATED ENTERPRISE
VALUE OF APPROXIMATELY $1.2 BILLION
    * COMBINED CO EXPECTED TO HAVE ABOUT $76.8 MILLION IN CASH
WITH AN
ESTIMATED ENTERPRISE VALUE OF ABOUT $1.2 BILLION
    * FOLLOWING CLOSING, BREEZE HOLDINGS WILL BE RENAMED "TRUE
VELOCITY, INC."
    * EXPECTED TO BE LISTED ON NASDAQ CAPITAL MARKET FOLLOWING
ANTICIPATED TRANSACTION CLOSE IN Q1 OF 2023
    * A UNIT OF BREEZE WILL MERGE WITH AND INTO TV AMMO, WITH TV
AMMO
SURVIVING AS A WHOLLY OWNED SUBSIDIARY OF BREEZE
    * UPON COMPLETION OF DEAL, TRUE VELOCITY WILL CONTINUE TO BE
LED
BY KEVIN BOSCAMP, FOUNDER, CHAIRMAN AND CO-CEO
    * UPON COMPLETION OF TRANSACTION TRUE VELOCITY WILL CONTINUE
TO BE
LED BY CHRIS TEDFORD, CO-CEO
    * UPON COMPLETION OF DEAL, TRUE VELOCITY TO CONTINUE TO BE
LED BY
CRAIG ETCHEGOYEN, PRESIDENT AND CHIEF IP OFFICER
    * UPON COMPLETION OF TRANSACTION, TRUE VELOCITY WILL
CONTINUE TO
BE LED BY JEFF CUTSHALL, CFO
    * TRUE VELOCITY INTENDS TO USE PROCEEDS FROM DEAL TO
FACILITATE
EXPANSION INTO NEW MARKETS AND DISTRIBUTION CHANNELS
    * TRUE VELOCITY INTENDS TO USE PROCEEDS FROM DEAL TO
INCREASE
MANUFACTURING CAPACITY TO 50-60 MILLION ROUNDS IN 2023

Source text for Eikon:  ID:nGNX7RSY8f 
Further company coverage:  BREZ.O 
 ((Reuters.Briefs@thomsonreuters.com;))