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OPES Acquisition Corp. has successfully completed its business combination with BurgerFi International, LLC, resulting in the rebranding to BurgerFi International, Inc. The company's stock will now trade on Nasdaq under the ticker symbol BFI. This aims to expand BurgerFi's growth both nationally and internationally, utilizing favorable real estate opportunities and enhancing technology for user experience. BurgerFi currently operates around 125 locations and emphasizes quality ingredients, boasting accolades in the industry. The transition coincides with the brand's 10-year anniversary.
OPES Acquisition Corp. has announced that 99.7% of its stockholders approved the business combination with BurgerFi International. The acquisition, valued at approximately $100 million, will result in OPES acquiring BurgerFi, which will then be renamed BurgerFi International, Inc. and trade on Nasdaq under the ticker BFI. The merger is seen as a significant opportunity for growth, with BurgerFi recognized for its quality food and rapid expansion, having around 125 locations. The company is set to ring the Nasdaq opening bell on December 17, 2020.
OPES Acquisition Corp. (Nasdaq: OPES, OPESW) announced a special meeting for stockholders on December 15, 2020, to vote on the business combination with BurgerFi International, LLC. The definitive proxy statement will be mailed around December 2, 2020, to stockholders of record by November 24, 2020. The meeting will be held via teleconference, and stockholders are encouraged to vote beforehand. The closing of the business combination is subject to stockholder approval and satisfaction of customary conditions, with name change to BurgerFi International, Inc. expected post-closure.
OPES Acquisition Corp. (Nasdaq: OPES) announced preliminary financial results for BurgerFi for Q3 2020, forecasting total revenue between $9 million to $9.2 million, surpassing Q2 2020 and Q3 2019 figures. Significant growth is noted in year-to-year delivery sales, with increases of 76% in July, 154% in August, and 91% in September. BurgerFi plans to open six new restaurants in Q4 2020, continuing its expansion strategy. The management emphasizes a strong operational focus on quality and digital services as key growth drivers.
OPES Acquisition Corp. announces the appointment of Julio Ramirez as the new CEO of BurgerFi. Ramirez brings nearly 30 years of experience from Burger King, where he held several senior positions. His leadership is expected to enhance BurgerFi's growth in the fast-casual burger segment through innovative strategies, including expansion into ghost kitchens. Under Ramirez, BurgerFi aims to leverage its unique brand strengths and commitment to sustainability, driving market share nationally and internationally.
OPES Acquisition Corp. (NASDAQ: OPES) announces a new addition to BurgerFi's menu: the Spicy Fi’ed Chicken Sandwich, launched at corporate locations by late September. The sandwich features hand-breaded cage-free chicken breast topped with ghost pepper honey, jalapeño-infused pickle chips, and spicy mayo. The rollout to over 125 locations across the U.S. is part of BurgerFi's commitment to quality ingredients aligned with its No Antibiotics Ever (NAE) philosophy. OPES is on track for merger completion with BurgerFi in Q4 2020.
OPES Acquisition Corp. (NASDAQ: OPES) has confirmed that its target, BurgerFi International, is pursuing aggressive expansion by signing letters of intent for over 30 new locations across the U.S. and internationally, including 18 in Florida. Nine new stores are set to open by year-end, with a mixture of traditional and ghost kitchens. This expansion is part of a strategic vision to enhance brand recognition, supported by increased franchisee investments. The merger between OPES and BurgerFi is anticipated to finalize in Q4 2020, amid strong growth prospects.
OPES Acquisition Corp. (NASDAQ:OPES) and its merger target, BurgerFi International, will present at the 9th Annual Gateway Conference on September 9-10, 2020. The presentation is scheduled for 11:30 a.m. ET on September 9, which will be available for live streaming. Executives including Chairman & CEO Ophir Sternberg and BurgerFi President Charlie Guzzetta will discuss the business combination. This event aims to connect compelling companies with institutional investors and analysts, providing a platform for engagement and discussion.
OPES Acquisition Corp. (NASDAQ: OPES) has announced the rescheduling of its Annual Meeting of Stockholders to August 7, 2020, due to technical issues during the original teleconference. The meeting will cover the election of James Anderson to the Board of Directors and other business matters. The definitive proxy statement detailing the election process was filed with the SEC on July 2, 2020. OPES is a special purpose acquisition company focused on business combinations.
Opes Acquisition Corp (NASDAQ: OPES) is set to merge with BurgerFi International, known for its antibiotic-free Angus beef burgers. On June 15, 2020, BurgerFi opened its first ghost kitchen in Miami, part of a multi-market agreement with REEF Kitchens. This initiative aims to expand BurgerFi's brand reach, with plans for 15 kitchens nationwide. Chairman Ophir Sternberg highlighted the growth opportunities ghost kitchens provide. The merger is expected to close in Q3 2020, enhancing shareholder value through market expansion and optimized delivery services.
