Yucaipa Acquisition announced that, pending final shareholder approval, it expects all conditions to be met or waived to complete its business combination with SIGNA Sports United, an e-commerce and technology platform.
Over the last three months the SPAC has been busy raising additional funding via PIPEs and a backstop against redemptions, which are believed to be significant, although precise numbers have not been disclosed. The SPAC said it still expects to deliver gross proceeds of at least $484 million to seal the deal, pending a shareholder vote on Monday.
About $645 million in proceeds was expected when the deal was announced in June.
The deal had an implied enterprise value of approximately $3.2 billion. Read more.
