Marquee Raine Acquisition in an 8-K filing today included a presentation highlighting its proposed merger with Enjoy Technology for approximately $460 million in cash.
Announced in April, the transaction values the combined company at an implied pro forma enterprise value of approximately $1.2 billion.
The transaction is expected to deliver up to $454 million to Enjoy, consisting of approximately $374 million of cash held in Marquee Raine’s trust account and $80 million through a PIPE priced at $10 per share.
Pending shareholder approval, upon closing the combined company will operate as Enjoy Technology, Inc. and its common stock will be listed on the Nasdaq stock exchange under the ticker symbol ENJY.
Enjoy is a technology-powered platform reinventing “Commerce at Home” to bring the store directly to the customer. The company was launched by former Apple executive Ron Johnson. Read more.
