ARC Group Worldwide, Inc. Announces the Closing of the Business Combination With RM2 International S.A.

Rhea-AI Summary

ARC Group Worldwide, Inc. (ARCW) has completed the sale of its legacy assets and closed its business combination with RM2 International S.A. on February 1, 2022. RM2, known for its innovative BLOCKPal pallets, utilizes IoT technology to enhance logistics efficiency and traceability. This merger positions ARCW for growth, as RM2's shareholders have exchanged shares for newly issued ARC shares. The company plans to change its name to RM2 International, Inc., effective around February 15, 2022, leveraging new capital to expand its pallet services.

Positive

• Closing of business combination with RM2 enhances growth potential.
• RM2's BLOCKPal technology provides innovative logistics solutions.
• Increased capital will enable RM2 to expand its pallet pool.
• Majority shareholders of RM2 exchanged shares for ARC shares, indicating confidence in the merger.

Negative

• Forward-looking statements include risks and uncertainties affecting projections.

DELAND, FL / ACCESSWIRE / February 2, 2022 / ARC Group Worldwide, Inc. ("ARC" and the "Company") (OTC PINK:ARCW), announces the completion of the sale of its legacy assets and the closing of its business combination with RM2 International S.A. ("RM2") on February 1, 2022 (the "Closing").

RM2 International S.A. ("RM2"), a Luxembourg corporation, is the owner and operator of the BLOCKPal, a technologically advanced, hygienic, ESG friendly, composite pallet that is leased to a Tier 1 customer base. RM2 provides its customers with end-to-end logistics Intelligence Optimization & Tracking (RM2 ELIoT) IoT technology for pallet traceability, delivering real-time actionable insights and powerful data to improve the supply chain visibility to the manufacturing and distribution businesses it serves.

RM2 launched the smart reusable pallet revolution by embedding autonomous IoT sensor technology in its pallets. The BLOCKPal pallets are provided to customers across a range of industries, with a particular focus on those where hygiene and traceability are of critical importance.

Ian Molson, Chairman of RM2, noted at the Closing, "We are thrilled to announce the completion of the RM2 business combination with ARC and advance to the next stage of our production and deployment. We believe ARC provides RM2 with a significant platform for expansive growth and market adoption of our cutting-edge technologies, with the potential to create major disruptive efficiencies across logistics systems and supply chains worldwide."

The majority shareholders of RM2 have exchanged their shares in RM2 for newly issued shares in ARC. Approximately 1.6% of RM2 shares remain issued and outstanding among widely dispersed shareholders and the Company plans to exchange these shares for shares in ARC as soon as reasonably feasible. Capital from ARC and four other institutional investors will enable RM2 to increase its pallet pool and service the unmet demand of its customers.

The principal shareholders of ARC now include Richard Cashin (the president of One Equity Partners LLC), QRM2 Holdings Ltd., (an entity controlled by the Quasha family), Polygon Global Partners, LLP (a global investment firm), PMB Invest Fund I SCSp and R. Ian Molson (a private investor).

We have initiated procedures to change the name of the Company to "RM2 International, Inc." We expect the name change to become effective on or about February 15, 2022.

More Information

To learn more about RM2, visit the RM2 website at: https://www.rm2.com/.

Forward Looking Statements

This release includes certain forward looking statements and projections. Such statements are subject to risks and uncertainties that could cause results to differ materially from the Company's and RM2's expectations. While the Company and RM2 make these statements in good faith, neither the Company nor RM2 nor their respective management can guarantee that anticipated future results will be achieved. Neither the Company nor RM2 assumes any obligation to publicly update or revise any forward looking statements made herein or any other forward looking statements made by the Company or RM2, whether as a result of new information, future events, or otherwise. All forward looking statements attributable to the Company or RM2 or persons acting on behalf of the Company or RM2 are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and, except as required by law, the Company undertakes no obligation to update or revise publicly any forward looking statements, whether as a result of new information, future events or otherwise.

Contact:
Investor Relations
Email: info@rm2.com

SOURCE: ARC Group Worldwide, Inc.

View source version on accesswire.com:
https://www.accesswire.com/687030/ARC-Group-Worldwide-Inc-Announces-the-Closing-of-the-Business-Combination-With-RM2-International-SA

FAQ

What is the significance of ARC Group Worldwide's business combination with RM2 International?

The combination enhances ARC's growth potential by integrating RM2's innovative pallet technology and expanding its market.

When did ARC Group Worldwide complete the sale of its legacy assets?

The sale of legacy assets and the business combination with RM2 was completed on February 1, 2022.

What technology does RM2 use for its pallets?

RM2 uses IoT technology for real-time tracking and supply chain visibility with its BLOCKPal pallets.

When will ARC Group Worldwide change its name to RM2 International, Inc.?

The name change is expected to take effect around February 15, 2022.