TH International Limited (dba Tims China) and Silver Crest Acquisition today disclosed additional details of the $94.5 million in PIPE financing announced last week, with the addition of a $100 million committed equity facility from CF Principal Investments, an affiliate of Cantor Fitzgerald. The CEF is governed by an ordinary share purchase agreement under which the company has the option to sell up to $100 million of its ordinary shares to CFPI over a specified 36-month period, and a related registration rights agreement.
TH International Limited is the parent company of the exclusive master franchise of Tim Hortons coffee shops for Restaurant Brands International.
If Silver Crest shareholders approve the deal, THIL will continue as the parent/public company and will retain the name TH International Limited with a Nasdaq listing under THCH. The combined company would have a valuation of $1.69 billion. Read more.
