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Business Combination

Source: SEC.gov as of August 10, 2018
Current Funds in Trust:~$15.0 million
Per Share Redemption Price:$11.00 per share
Target Enterprise Value:Terminated Agreement - Liquidating
Shares to be cancelled:As of close of business 8/15/18
Redemption Completion Date:Within 10 business days of 8/15/18

IPO Terms

IPO Terms/Details

Total Public Proceeds at IPO ($mm):$42.0
% Held in Trust:102.0% or $42.8mm
$ Held in Trust per Unit:$10.20
Mgmt's Sector Expertise/Focus:Specialty pharma and generic drug 
IPO Date:Dec. 12, 2014
Months to Complete:18
Deadline Date*:
(*Extended)
September 12, 2018*
Unit Structure (OACQU)
Share (OACQ):1 Ordinary Share
Warrant (OACQW):
Right (OACQR):
1 Warrant
1 Right
Public Warrant Terms:
Exercise Price:$11.50
Redemption Price:$18.00
Cash or Cashless Redemption:Management's Discretion
Right Terms:
Upon completion of business combination:1/10 of one share of common stock
Underwriters:
Book-runner(s) and Lead Mgr(s):EarlyBirdCapital, Inc.
Co-Manager(s):Aegis Capital Corp, I-Bankers Securities, Inc.
Fees (Upfront/Deferred):3.25% / 4.0%
Lawyers:
Issuer's Counsel:Graubard Miller
Underwriter's Counsel:McDermott Will & Emery LLP

Investor Presentation Proxy Statement High Times Website Termination & Liquidation

PROPOSED BUSINESS COMBINATION


CURRENT FUNDS in TRUST: $17.6 million
CURRENT PER SHARE REDEMPTION PRICE: $10.93 (as of May 29, 2018)
TRANSACTION ENTERPRISE VALUE: $278 Million

Origo Acquisition Corporation proposes a business combination with Hightimes Holding Corp. (“High Times”), publisher of HIGH TIMES® magazine and a leading voice of the cannabis community since 1974. High Times is a diversified media, information services and live entertainment company focused on creating and distributing authoritative and engaging cannabis-related content.


High Times’ growth strategy includes the following:
  • Leveraging the High Times brand name by offering licensing and branding opportunities to events, dispensaries, lounges / hotels, retail stores, seed companies, and consumer product companies.
  • Aggregating and monetizing new and existing enthusiast content using High Times’ marquee-branded, affinity-based digital platforms offering e-Commerce, social media, advertising and data collection.
  • Expanding High Times-branded Events and Cannabis Cup competitions, with dates planned in both new and existing geographies.
  • Utilizing traditional media as a continuity play, driving consumers to High Times online and enhancing branded licensed products.
  • Creating the definitive destination for cannabis knowledge through the development of Education and Distance Learning.
  • Pursuing accretive acquisitions that enhance cash flow, increase site traffic and content, and extend branding opportunities.
Origo Acquisition Summary
Origo Acquisition Summary

** EarlyBirdCapital, Inc. (“EBC”) served as financial advisor to Origo.

 

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