Arko Holdings said its shareholders approved the business combination between Arko and Haymaker II. The combined company said in tandem with the merger affiliates of MSD Partners will purchase up to $100 million of convertible preferred stock to support the company’s growth objectives.
The newly combined company also raised its projection for fiscal 2020 and expects to deliver adjusted EBITDA, excluding results from the recently acquired Empire Petroleum business, in the range of $163 million to $167 million compared to a prior projection of $145 million to $150 million. Read more.
