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Quality Gold, a leading jewelry distributor, has announced its acquisition of HERCO Jewelry Company, a family-owned wholesale jewelry company that generated over $25 million in revenues in fiscal 2022. This strategic acquisition aims to enhance Quality Gold's product offerings and expand its distribution network, particularly in the high-end jewelry sector. The deal is expected to close by mid-February 2023. The combined entity will operate under the name Quality Gold Holdings, Inc. after its business combination with Tastemaker Acquisition Corp. is finalized, anticipated for Q2 2023.
Quality Gold is set to merge with Tastemaker Acquisition Corp. (Nasdaq: TMKR) following a business combination agreement signed on October 20, 2022. A registration statement has been filed with the SEC, detailing the proposed combination, which does not require a minimum cash condition and is subject to stockholder approval, alongside other closing conditions. The transaction is anticipated to conclude in Q1 2023. Quality Gold will present at the 25th Annual ICR Conference on January 9, 2023, at 9:30 a.m. ET.
Quality Gold, Inc., a top jewelry distributor, has entered a definitive agreement with Tastemaker Acquisition Corp. (TMKR) for a merger that will take Quality Gold public. Post-transaction, the new entity will be named Quality Gold Holdings, Inc. and trade on Nasdaq as QGLD. Quality Gold boasts over 15,000 retail partners and a history of profitable growth, with FY2022 revenue at $534 million and adjusted EBITDA of $82 million. The combined company's enterprise valuation is projected at $989 million, aiming to leverage cash proceeds for strategic growth and acquisitions.
Tastemaker Acquisition Corp. (NASDAQ: TMKRU) announced that starting March 1, 2021, holders of units from its initial public offering can separately trade shares of Class A common stock (TMKR) and warrants (TMKRW). Only whole warrants will be issued upon the separation of units, which will continue to trade as TMKRU if not separated. The press release clarifies that it does not constitute an offer to sell or buy securities in jurisdictions where such actions would be illegal.
Tastemaker Acquisition Corp. closed its initial public offering on January 12, 2021, successfully issuing 27,600,000 units, which included 3,600,000 units from underwriters' overallotment. The units were priced at $10.00 each and began trading on Nasdaq as of January 8, 2021, under the symbol 'TMKRU'. Each unit comprises a share of Class A common stock and a half warrant, with whole warrants available for purchase at $11.50 per share. The company aims to pursue mergers and acquisitions in the restaurant and hospitality sectors.
Tastemaker Acquisition Corp. has announced the pricing of its upsized IPO, offering 24,000,000 units at $10.00 per unit. The units will trade on Nasdaq under the ticker symbol “TMKRU” starting January 8, 2021. Each unit includes one share of Class A common stock and one-half of a redeemable warrant, with whole warrants priced at $11.50 per share. Stifel serves as the sole book-running manager and has a 45-day option to purchase an additional 3,600,000 units. The offering is set to close on January 12, 2021, subject to customary conditions.
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