TRADING QUOTES 11:13 AM September 24, 2018
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(Business Combination or IPO Details) to access the relevant details. Additional info below.
|Source: SEC.gov as of August 10, 2018|
|Current Funds in Trust:||~$15.0 million|
|Per Share Redemption Price:||$11.00 per share|
|Target Enterprise Value:||Terminated Agreement - Liquidating|
|Shares to be cancelled:||As of close of business 8/15/18|
|Redemption Completion Date:||Within 10 business days of 8/15/18|
|Total Public Proceeds at IPO ($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|
|September 12, 2018*|
|Unit Structure (OACQU)|
|Share (OACQ):||1 Ordinary Share|
|Public Warrant Terms:|
|Cash or Cashless Redemption:||Management's Discretion|
|Upon completion of business combination:||1/10 of one share of common stock|
|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%|
|Issuer's Counsel:||Graubard Miller|
|Underwriter's Counsel:||McDermott Will & Emery LLP|
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.
** EarlyBirdCapital, Inc. (“EBC”) served as financial advisor to Origo.