BERLIN–(Organization WIRE)–SIGNA Sports activities United (“SSU” or the “Company”), the world’s major sporting activities e-commerce and know-how system, now accomplished its formerly announced business enterprise combination with Yucaipa Acquisition Company (NYSE: YAC) (“Yucaipa” or “YAC”). The company blend was accepted by Yucaipa’s stockholders in a specific assembly held on December 13, 2021. The mixed Organization will work as SIGNA Athletics United and its popular stock will start out buying and selling less than the symbol “SSU” on the NYSE on Wednesday, December 15, 2021.
Stephan Zoll, Main Govt Officer, explained, “This transaction is a milestone occasion for SIGNA Sports United, offering cash to bolster our position in the speedily developing sports e-commerce & engineering place and continue on our expansion in Europe as effectively as into the United States. SSU is dedicated to a method of long-term price generation, and we are delighted to start off our journey as a public company to unlock the whole prospective of our system and infrastructure.”
Important Attributes of SSU
- Business model supported by very long-expression megatrends in the significant, fragmented sporting activities retail market with substantial extensive-time period expansion in emphasis verticals
- Market place leading sports activities professional webshop brands with >7 million energetic clients
- Keep track of document of strong, double digit natural development with demonstrated skill to enter new marketplaces
- Appealing fiscal profile evidenced by verified unit economics and growing margins
- Opportunity to introduce new business enterprise versions with accretive, technologies driven platform and ecosystem enlargement
- Very clear route to world wide scale with exceptional global consolidation prospect based mostly on proven playbook
In conjunction with the shut of the business mixture, SSU has also finalized the acquisition of the WiggleCRC Group (“WiggleCRC”), building the world’s biggest online bike system.
Mr. Zoll added, “The acquisition of WiggleCRC is a large strategic accomplishment for us, strongly complementing our geographic footprint and delivering various synergies in the bicycle classification. We are delighted to welcome the Wiggle Chain Reaction Cycles workforce to our team and are seeking ahead to mutually broaden our position as the primary world wide bicycle on the web system.”
Mike Özkan, specified Chairman of the Board of SSU, additional, “Today, SIGNA Sports United emerges as a worldwide leader in sports activities e-commerce & technological innovation poised to speed up its enlargement. With the closing of the small business combination as nicely as the WiggleCRC acquisition, SSU is having its following phase to further accelerate its world wide growth as a NYSE outlined organization. The listing will make it possible for the company to accelerate the strategic consolidation of the sports e-commerce & engineering sector.”
Citi acted as lead monetary advisor to SSU. Moelis & Organization LLC acted as direct fiscal advisor to YAC. Jefferies acted as cash markets advisor to YAC. Citi and Jefferies LLC acted as co-placement agents on the PIPE. Skadden, Arps, Slate, Meagher & Flom LLP acted as direct authorized advisor to SSU, and Kirkland & Ellis LLP acted as lead authorized advisor to YAC.
About SIGNA Sporting activities United
Inspiring general performance. United by enthusiasm. SSU is a group of professional sports activities webshops run by our main athletics commerce and know-how system. Our specialist method permits us to uniquely spotlight the very best of our 1000+ model partners across the bicycle, tennis, out of doors and teamsports types. With each other we serve our 7M+ active shoppers by uniting the world’s athletics info pools, electronic expertise and enthusiasm for active dwelling.
For additional information, remember to go to: www.signa-sportsunited.com
On June 10th, 2021, SSU and YAC entered into a Enterprise Blend Settlement (as it could be amended, supplemented or normally modified from time to time, the “Business Mixture Agreement”) by and amid YAC, SSU, Signa Sporting activities United B.V. (“Pubco”), Olympics I Merger Sub, LLC and Signa Intercontinental Athletics Holding GmbH. On July 2, 2021, Pubco submitted a registration assertion on Kind F-4 to the U.S. Securities and Trade Fee (“SEC”) with regard to the business mixture Business Mixture Settlement (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 incorporates a document that serves as a prospectus of Pubco with regard to the securities that ended up issued in link with the enterprise blend of Yucaipa with SSU contemplated by the Enterprise Blend Agreement and a proxy assertion of Yucaipa with respect to the Common Conference. The definitive proxy assertion/prospectus was filed with the SEC on November 26, 2021 (the “Definitive Proxy/Prospectus”).
Forward Seeking Statements
Selected statements made herein, such as the description of the transactions, agreements and other data contained herein (collectively, this “Press Release”) are not historic specifics but are “forward-hunting statements” for uses of the protected harbor provisions less than The Personal Securities Litigation Reform Act of 1995. Forward-on the lookout statements usually are accompanied by text this sort of as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “could,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “suggests,” “targets,” “projects,” “forecast” and identical expressions that predict or show potential functions or traits or that are not statements of historical matters. These forward-looking statements consist of, but are not limited to, statements relating to long term activities, the believed or expected upcoming success and added benefits of the mixed business adhering to the Organization Mix, long run options for the blended corporation, long run planned products and solutions and solutions, organization technique and designs, targets of management for long term operations of SSU, market size and progress opportunities, aggressive posture, technological and market traits, and other statements that are not historical facts. These statements are based on the present anticipations of SSU’s administration and are not predictions of genuine general performance. These ahead-wanting statements are presented for illustrative purposes only and are not supposed to serve as, and need to not be relied on, by any investor as a assurance, an assurance, a prediction or a definitive assertion of simple fact or likelihood. Actual functions and conditions are tough or impossible to predict and will vary from assumptions. All ahead-wanting statements are based on estimates and forecasts and mirror the sights, assumptions, expectations, and viewpoints of SSU, which are all topic to improve thanks to different components which include, devoid of limitation, modifications in basic economic disorders as a consequence of the COVID-19 pandemic. Any these types of estimates, assumptions, anticipations, forecasts, sights or thoughts, irrespective of whether or not identified in this Press Release, must be regarded as indicative, preliminary and for illustrative functions only and ought to not be relied upon as becoming necessarily indicative of long term effects.
Lots of genuine activities and circumstances are past the management of SSU. These statements are matter to a range of challenges and uncertainties concerning SSU’s companies and the Business enterprise Mixture, and precise outcomes may perhaps differ materially. These challenges and uncertainties include, but are not restricted to, general financial, political and small business conditions variations in domestic or international organization, industry, economical, political and legal ailments the result of any authorized proceedings that could be instituted against the parties subsequent the announcement of the Small business Blend the possibility that the approval of the shareholders of Yucaipa or SSU for the probable transaction is not received failure to comprehend the predicted benefits of the Business enterprise Blend, which includes difficulty in integrating the corporations of Yucaipa, SSU and WiggleCRC the risk that the Enterprise Combination disrupts recent options and functions as a consequence of the announcement and consummation of the Small business Blend the potential of the merged organization to improve and deal with development profitably and retain its crucial workers which include its executive group the incapacity to preserve the listing of the article-acquisition company’s securities on NYSE subsequent the Business Mix expenditures connected to the Company Mix the over-all stage of demand for SSU’s expert services general economic situations and other things affecting SSU’s business enterprise SSU’s capability to put into action its business enterprise strategy SSU’s capacity to handle bills alterations in applicable guidelines and governmental regulation and the effects of this kind of modifications on SSU’s business, SSU’s exposure to litigation promises and other decline contingencies the dangers affiliated with adverse press or reputational damage disruptions and other impacts to SSU’s company, as a end result of the COVID-19 pandemic and governing administration actions and restrictive measures carried out in response SSU’s skill to secure patents, emblems and other mental house rights any breaches of, or interruptions in, SSU’s technological innovation infrastructure modifications in tax rules and liabilities and variations in lawful, regulatory, political and economic pitfalls and the effect of these types of changes on SSU’s organization.
The foregoing checklist of variables is not exhaustive. You must carefully contemplate the foregoing elements and the other hazards and uncertainties that are explained in the “Risk Factors” part of the Definitive Proxy/Prospectus and other documents filed by Pubco from time to time with the SEC. There may be further threats that Pubco presently does not know or that Pubco at this time believes are immaterial that could also cause real benefits to vary from those people contained in the ahead-hunting statements. In addition, ahead-seeking statements offer Pubco’s anticipations, plans or forecasts of future gatherings and views as of the date of this Press Launch. Pubco anticipates that subsequent events and developments will induce Pubco’s assessments to alter. However, while Pubco may elect to update these ahead-seeking statements at some issue in the long run, Pubco especially disclaims any obligation to do so. These forward-searching statements should really not be relied on as representing Pubco’s assessments as of any date subsequent to the date of this Push Launch. Appropriately, undue reliance really should not be put upon the ahead-looking statements.
This Push Launch is for informational needs only and is neither an provide to purchase, sell or trade nor a solicitation of an offer to market, subscribe for or acquire or exchange any securities or the solicitation of any vote in any jurisdiction pursuant to the Company Blend or in any other case, nor will there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. No offer of securities will be produced apart from by implies of a prospectus meeting the prerequisites of Portion 10 of the Securities Act.
Expense IN ANY SECURITIES Explained HEREIN HAS NOT BEEN Authorised OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY Passed Upon OR ENDORSED THE Deserves OF THE Offering OR THE Accuracy OR ADEQUACY OF THE Information and facts CONTAINED HEREIN. ANY Illustration TO THE Opposite IS A Felony OFFENSE.