Bowlero Corp. Announces Redemption of All Outstanding Warrants
Bowlero Corp. (NYSE:BOWL) announced the redemption of all outstanding warrants to purchase its Class A common stock by May 16, 2022. The warrants will be redeemed at a price of $0.10 each after the stock met the required condition of trading at $10.00 per share on April 13, 2022. Warrant holders can still exercise their warrants until the redemption deadline, either by cash payment at $11.50 per share or through a cashless exercise. Unexercised warrants post-deadline will be voided. Bowlero operates over 300 bowling centers, serving 26 million guests annually.
- Redemption of all outstanding warrants at a price of $0.10 each, signaling strong stock performance.
- Stock price condition met, affirming investor confidence.
- Warrants unexercised by the redemption deadline will become void, potentially impacting some investors.
RICHMOND, Va., April 14, 2022 (GLOBE NEWSWIRE) -- Bowlero Corp. (NYSE:BOWL) (“Bowlero”) today announced that it will redeem all of its publicly traded and privately held warrants to purchase shares of Bowlero’s Class A common stock, par value
Bowlero has directed its warrant agent, Continental Stock Transfer & Trust Company (the “Warrant Agent”), to deliver a notice of redemption (the “Notice of Redemption”) to the registered holders of outstanding warrants pursuant to the Warrant Agreement, dated as of March 2, 2021 (the “Warrant Agreement”), by and between Bowlero (f/k/a Isos Acquisition Corporation) and the Warrant Agent. Under the Warrant Agreement, Bowlero is entitled to redeem its public warrants at a redemption price of
Exercise Procedures and Deadline for Warrant Exercise
Warrant holders may continue to exercise their warrants to purchase shares of Common Stock until immediately before 5:00 p.m. New York City time on the Redemption Date. Payment upon exercise of the warrants may be made either (i) in cash, at an exercise price of
Holders wishing to exercise their warrants should follow the procedures described in the Notice of Redemption and the Election to Exercise form included with the notice. Holders of warrants held in “street name” should immediately contact their brokers to determine exercise procedures. Since the act of exercising is voluntary, holders must instruct their brokers to submit the warrants for exercise.
Termination of Warrant Rights
Any outstanding Bowlero warrants that remain unexercised at 5:00 p.m. New York City time on the Redemption Date will be void and no longer exercisable, except to receive the Redemption Price or as otherwise described in the Notice of Redemption.
Prospectus
Prospectuses covering the shares of Common Stock issuable upon the exercise of the warrants are included in a registration statement on Form S-4 (Registration No. 333-258080) filed with Bowlero with, and declared effective by, the Securities and Exchange Commission (the “SEC”) and a registration statement on Form S-1 (Registration No. 333-262179) filed by Bowlero with, and declared effective by, the SEC. The SEC maintains an Internet website that contains a copy of each prospectus. The address of that site is www.sec.gov. Alternatively, you can obtain a copy of each prospectus from the Company’s investor relations website at https://ir.Bowlero.com.
Additional Information and Answers to Questions
Questions concerning redemption or exercise of the warrants may be directed to the Warrant Agent, Continental Stock Transfer & Trust Company, at 1 State Street, Floor 30, New York, NY 10004, Attention: Reorganization Department, or by calling (212) 509-4000.
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any Bowlero securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Bowlero
Bowlero Corp. is the worldwide leader in bowling entertainment, media, and events. With more than 300 bowling centers across North America, Bowlero Corp. serves more than 26 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. In 2019, Bowlero Corp. acquired the Professional Bowlers Association, the major league of bowling, which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com.
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FAQ
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