Edition:
United Kingdom

Legacy Acquisition Corp And Blue Impact Announce Business Combination


Friday, 23 Aug 2019 

Aug 23 (Reuters) - Legacy Acquisition Corp ::LEGACY ACQUISITION CORP. AND BLUE IMPACT ANNOUNCE BUSINESS COMBINATION.LEGACY ACQUISITION CORP - COMBINED COMPANY EXPECTED TO BE LISTED ON NEW YORK STOCK EXCHANGE.LEGACY ACQUISITION CORP - SELLING ENTITY WILL RECEIVE 30 MILLION SHARES OF CLASS A COMMON STOCK OF LEGACY.LEGACY ACQUISITION CORP - LEGACY WOULD ASSUME $40 MILLION OF NET DEBT RELATED TO BLUE IMPACT BUSINESS AND $48 MILLION OF DEFERRED PURCHASE PRICE OBLIGATIONS.LEGACY ACQUISITION - IMMEDIATELY FOLLOWING PROPOSED TRANSACTION, LEGACY INTENDS TO CHANGE ITS NAME TO BLUE IMPACT INC. & EXPECTED TO CONTINUE TO TRADE ON NYSE.LEGACY ACQUISITION CORP - POST-CLOSING, BLUE IMPACT BUSINESS WILL BE LED BY BRETT MARCHAND AS CEO.LEGACY ACQUISITION CORP - AT CLOSING, COMBINED CO IS PROJECTED TO HAVE ABOUT $176 MILLION OF CASH AVAILABLE FOR ACQUISITIONS AND WORKING CAPITAL.LEGACY ACQUISITION CORP - LEGACY AND BFICG BOARDS OF DIRECTORS HAVE EACH UNANIMOUSLY APPROVED PROPOSED TRANSACTION. 

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