BERLIN–(Organization WIRE)–SIGNA Athletics United (“SSU” or the “Company”), the world’s major sports activities e-commerce and technologies system, these days concluded its previously announced small business mixture with Yucaipa Acquisition Company (NYSE: YAC) (“Yucaipa” or “YAC”). The organization mix was accepted by Yucaipa’s stockholders in a special assembly held on December 13, 2021. The put together Organization will run as SIGNA Sports activities United and its frequent inventory will start out trading underneath the symbol “SSU” on the NYSE on Wednesday, December 15, 2021.
Stephan Zoll, Chief Govt Officer, explained, “This transaction is a milestone function for SIGNA Athletics United, offering capital to bolster our place in the speedily expanding sports e-commerce & technology house and carry on our growth in Europe as well as into the United States. SSU is dedicated to a tactic of long-term price generation, and we are pleased to start our journey as a general public organization to unlock the total possible of our platform and infrastructure.”
Essential Characteristics of SSU
- Business model supported by lengthy-expression megatrends in the large, fragmented sporting activities retail sector with significant prolonged-expression development in concentrate verticals
- Market foremost sporting activities specialist webshop models with >7 million lively shoppers
- Monitor file of sturdy, double digit organic and natural advancement with shown capability to enter new marketplaces
- Desirable financial profile evidenced by demonstrated device economics and expanding margins
- Prospect to introduce new enterprise versions with accretive, technological innovation pushed system and ecosystem enlargement
- Distinct path to international scale with exceptional world consolidation option based mostly on proven playbook
In conjunction with the shut of the company mixture, SSU has also finalized the acquisition of the WiggleCRC Group (“WiggleCRC”), producing the world’s premier on the web bike system.
Mr. Zoll added, “The acquisition of WiggleCRC is a enormous strategic accomplishment for us, strongly complementing our geographic footprint and furnishing numerous synergies in the bike classification. We are delighted to welcome the Wiggle Chain Response Cycles staff to our team and are seeking ahead to mutually broaden our place as the primary world bicycle on line system.”
Mike Özkan, selected Chairman of the Board of SSU, included, “Today, SIGNA Athletics United emerges as a international leader in sporting activities e-commerce & technological innovation poised to speed up its enlargement. With the closing of the small business mixture as perfectly as the WiggleCRC acquisition, SSU is using its future move to more accelerate its world expansion as a NYSE listed enterprise. The listing will let the organization to speed up the strategic consolidation of the athletics e-commerce & engineering sector.”
Advisors
Citi acted as guide money advisor to SSU. Moelis & Enterprise LLC acted as direct fiscal advisor to YAC. Jefferies acted as capital marketplaces advisor to YAC. Citi and Jefferies LLC acted as co-placement agents on the PIPE. Skadden, Arps, Slate, Meagher & Flom LLP acted as guide authorized advisor to SSU, and Kirkland & Ellis LLP acted as direct legal advisor to YAC.
About SIGNA Sports United
Inspiring functionality. United by enthusiasm. SSU is a team of expert athletics webshops driven by our leading sports activities commerce and engineering platform. Our professional method will allow us to uniquely highlight the ideal of our 1000+ model associates throughout the bicycle, tennis, out of doors and teamsports classes. Jointly we provide our 7M+ energetic clients by uniting the world’s athletics facts swimming pools, electronic expertise and passion for energetic residing.
For even more data, remember to check out: www.signa-sportsunited.com
Additional Details
On June 10th, 2021, SSU and YAC entered into a Business enterprise Combination Settlement (as it may well be amended, supplemented or in any other case modified from time to time, the “Business Mixture Agreement”) by and among the YAC, SSU, Signa Sports United B.V. (“Pubco”), Olympics I Merger Sub, LLC and Signa International Sports Holding GmbH. On July 2, 2021, Pubco submitted a registration assertion on Form F-4 to the U.S. Securities and Trade Fee (“SEC”) with regard to the small business mix Business Combination Agreement (the “Business Combination”), which was amended on August 31, 2021, October 18, 2021, November 4, 2021, November 17, 2021, November 23, 2021 and November 24, 2021 and declared powerful on November 24, 2021, which includes a doc that serves as a prospectus of Pubco with regard to the securities that were being issued in connection with the business mix of Yucaipa with SSU contemplated by the Small business Mixture Arrangement and a proxy assertion of Yucaipa with regard to the Typical Meeting. The definitive proxy assertion/prospectus was submitted with the SEC on November 26, 2021 (the “Definitive Proxy/Prospectus”).
Ahead Seeking Statements
Sure statements built herein, such as the description of the transactions, agreements and other information contained herein (collectively, this “Press Release”) are not historic facts but are “forward-seeking statements” for uses of the secure harbor provisions beneath The Private Securities Litigation Reform Act of 1995. Ahead-looking statements typically are accompanied by terms these as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “could,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “suggests,” “targets,” “projects,” “forecast” and related expressions that forecast or reveal potential occasions or traits or that are not statements of historical matters. These forward-on the lookout statements contain, but are not constrained to, statements relating to future functions, the approximated or anticipated potential final results and positive aspects of the combined firm pursuing the Enterprise Combination, long term chances for the combined enterprise, foreseeable future planned items and companies, enterprise strategy and strategies, objectives of management for potential functions of SSU, sector dimension and expansion options, aggressive situation, technological and marketplace traits, and other statements that are not historical facts. These statements are centered on the present anticipations of SSU’s management and are not predictions of precise effectiveness. These ahead-wanting statements are offered for illustrative reasons only and are not supposed to provide as, and must not be relied on, by any investor as a assurance, an assurance, a prediction or a definitive statement of reality or probability. Genuine functions and circumstances are difficult or difficult to forecast and will vary from assumptions. All ahead-searching statements are dependent upon estimates and forecasts and mirror the sights, assumptions, anticipations, and viewpoints of SSU, which are all issue to change owing to many factors together with, with no limitation, improvements in typical economic ailments as a consequence of the COVID-19 pandemic. Any such estimates, assumptions, anticipations, forecasts, sights or views, no matter whether or not identified in this Push Launch, need to be regarded as indicative, preliminary and for illustrative purposes only and really should not be relied upon as getting necessarily indicative of foreseeable future outcomes.
A lot of precise situations and circumstances are outside of the command of SSU. These statements are subject matter to a amount of hazards and uncertainties concerning SSU’s corporations and the Small business Mixture, and real results may vary materially. These dangers and uncertainties involve, but are not confined to, standard economic, political and business enterprise situations adjustments in domestic or international organization, industry, financial, political and authorized disorders the final result of any lawful proceedings that may well be instituted against the get-togethers pursuing the announcement of the Business enterprise Blend the threat that the acceptance of the shareholders of Yucaipa or SSU for the likely transaction is not obtained failure to know the expected positive aspects of the Company Mixture, such as trouble in integrating the companies of Yucaipa, SSU and WiggleCRC the possibility that the Business Combination disrupts latest ideas and operations as a result of the announcement and consummation of the Organization Blend the capability of the blended enterprise to mature and manage expansion profitably and retain its essential employees which includes its govt staff the incapacity to manage the listing of the post-acquisition company’s securities on NYSE following the Small business Mix charges linked to the Business enterprise Blend the general level of demand from customers for SSU’s services general financial situations and other things impacting SSU’s small business SSU’s means to employ its business enterprise strategy SSU’s potential to regulate fees alterations in applicable legislation and governmental regulation and the effect of this sort of alterations on SSU’s company, SSU’s exposure to litigation promises and other decline contingencies the threats linked with destructive press or reputational harm disruptions and other impacts to SSU’s organization, as a outcome of the COVID-19 pandemic and authorities actions and restrictive measures carried out in reaction SSU’s skill to defend patents, logos and other mental assets rights any breaches of, or interruptions in, SSU’s technological know-how infrastructure improvements in tax guidelines and liabilities and improvements in lawful, regulatory, political and economic hazards and the influence of these kinds of variations on SSU’s small business.
The foregoing record of aspects is not exhaustive. You should cautiously think about the foregoing elements and the other hazards and uncertainties that are explained in the “Risk Factors” area of the Definitive Proxy/Prospectus and other files submitted by Pubco from time to time with the SEC. There could be further pitfalls that Pubco presently does not know or that Pubco at this time believes are immaterial that could also lead to genuine benefits to vary from those contained in the forward-seeking statements. In addition, ahead-seeking statements offer Pubco’s anticipations, options or forecasts of future situations and views as of the day of this Press Release. Pubco anticipates that subsequent situations and developments will bring about Pubco’s assessments to change. Nevertheless, while Pubco may elect to update these ahead-wanting statements at some point in the upcoming, Pubco exclusively disclaims any obligation to do so. These ahead-on the lookout statements ought to not be relied on as symbolizing Pubco’s assessments as of any date subsequent to the date of this Push Launch. Accordingly, undue reliance need to not be positioned upon the forward-on the lookout statements.
Disclaimer
This Push Release is for informational applications only and is neither an provide to invest in, provide or trade nor a solicitation of an provide to sell, subscribe for or invest in or exchange any securities or the solicitation of any vote in any jurisdiction pursuant to the Company Mix or otherwise, nor will there be any sale, issuance or transfer or securities in any jurisdiction in contravention of relevant law. No present of securities will be manufactured except by signifies of a prospectus conference the necessities of Part 10 of the Securities Act.
Investment decision IN ANY SECURITIES Explained HEREIN HAS NOT BEEN Approved OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY Passed On OR ENDORSED THE Merits OF THE Supplying OR THE Accuracy OR ADEQUACY OF THE Facts CONTAINED HEREIN. ANY Representation TO THE Opposite IS A Felony OFFENSE.