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On May 24, 2022, Haymaker Acquisition Corp. III (Nasdaq: HYAC) announced the approval of its business combination with Biote, following a special meeting of stockholders. The transaction is anticipated to close around May 26, 2022, with trading of the new company's stock, biote Corp., expected to begin on May 27, 2022, under the symbols BTMD and BTMDW. Biote is focused on hormone optimization and training practitioners in related fields. This marks a significant step for both companies as they work towards operational synergies.
Biote reported record financial results for 2021, with net sales of $139.4 million, a 20% increase year-over-year, and Q4 sales of $37.5 million, up 22% from the previous quarter. EBITDA rose to $36 million, marking a 9% increase year-over-year. The company anticipates revenue in the range of $160-166 million and EBITDA of $46-50 million for 2022, following a business combination with Haymaker Acquisition Corp. III (Nasdaq: HYAC) expected in Q2 2022, which will provide additional funding for expansion.
Haymaker Acquisition Corp. III (NASDAQ: HYACU) announced that starting April 22, 2021, holders of units from its IPO can trade shares of Class A common stock and redeemable warrants separately. Whole warrants will trade under the symbols HYAC and HYACW, while units that remain intact will continue to be listed as HYACU. This decision provides investors with greater flexibility in trading. Haymaker focuses on acquiring businesses in the consumer and consumer-related sectors, led by CEO Steven J. Heyer, among others.
Haymaker Acquisition Corp. III (NASDAQ: HYACU) has successfully closed its initial public offering, raising $300 million through the sale of 30 million units priced at $10.00 each. Proceeds are set to be placed in trust to facilitate future business combinations in the consumer sector. The offering was underwritten by Citigroup and Cantor Fitzgerald & Co. The SEC declared the registration statement effective on March 1, 2021.
Haymaker Acquisition Corp. III has priced its initial public offering (IPO) of 30,000,000 units at $10.00 per unit, with listing on NASDAQ under the ticker symbol HYACU starting March 2, 2021. Each unit includes one share of Class A common stock and one-fourth of a redeemable warrant, exercisable for $11.50 per share. The firm plans to acquire businesses in the consumer products sector, with CEO Steven J. Heyer and team leading the initiative. Underwriters Citigroup and Cantor Fitzgerald have a 45-day option for an additional 4,500,000 units.
ARKO Holdings, Ltd. has completed its acquisition of Empire Petroleum Partners, enhancing scale and diversifying its operations, which now encompass about 3,000 locations across 33 states. This acquisition is projected to double their annual fuel distribution to over 2 billion gallons. CEO Arie Kotler emphasizes the strategic importance of this deal for growth and competitiveness. The move coincides with ARKO's impending merger with Haymaker Acquisition Corp. II, expected to finalize in Q4 2020, leading to a public listing on NASDAQ under the ticker ARKO.
ARKO Corp. is set for strong growth post-merger with Haymaker Acquisition Corp.. Projected 2021 Pro-forma Adjusted EBITDA is expected to range from $210 to $215 million. GPM Investments, a leading convenience store chain in the U.S., will enhance its growth trajectory with a store count rising to 1,393 locations. The deal, pending shareholder approval, anticipates a $1.4 billion market cap at closing, with an estimated total enterprise value of $2 billion. A joint investor call is scheduled for September 9, 2020.
