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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.
