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SIGNA Sports United (SSU) will start trading on the NYSE under the symbol SSU from
The completion of the business combination with Yucaipa Acquisition Corporation (YAC) has generated $484 million in gross proceeds. This includes trust proceeds and an upsized private placement from investors.
Additionally, SSU has finalized the acquisition of WiggleCRC, positioning itself as the largest online bike platform globally, enhancing its footprint in the sports e-commerce sector.
Yucaipa Acquisition Corporation (NYSE: YAC) and SIGNA Sports United (SSU) announced the approval of their business combination by shareholders, set to close by December 14, 2021. The deal, valued at $3.2 billion, includes the acquisition of WiggleCRC Group, a major online bike retailer. It is expected to raise at least $484 million through trust proceeds and a private investment. SSU will continue under its current leadership, and the resulting entity will trade as SIGNA Sports United N.V. on the NYSE under the symbol SSU.
Yucaipa Acquisition Corporation (YAC) has announced plans for a business combination with SIGNA Sports United (SSU), subject to shareholder approval. The extraordinary general meeting is set for December 13, 2021, in New York City. The merger is projected to generate at least $484 million from institutional investors, enhancing SSU's position in the sports e-commerce market. Despite expectations of revenue decline due to COVID-19 supply chain issues, SSU remains optimistic about future growth opportunities.
SIGNA Sports United (SSU) announced a $70 million upsizing of its PIPE, raising total proceeds to $372 million, to support its business combination with Yucaipa Acquisition Corporation (YAC). A $178 million backstop commitment was also established to cover potential elevated shareholder redemptions, ensuring liquidity for the pro forma company. The enhanced PIPE is intended for the acquisition of WiggleCRC and strategic growth initiatives. The transaction is subject to shareholder approval and is expected to close in Q4 2021, promoting SSU's mission to digitalize the global sports retail ecosystem.
Yucaipa Acquisition Corporation (NYSE: YAC) has announced a business combination with SIGNA Sports United (SSU) and the acquisition of WiggleCRC, a top online bike retailer. This strategic merger aims to create a leading sports e-commerce platform, projected to generate approximately $1.6 billion in net revenues by September 2021. The combined entity will serve over 7 million active customers and leverage a strong technology platform for growth. With a pro forma enterprise valuation of $3.2 billion, the transaction is expected to close in H2 2021, pending shareholder approval.
