Business
Haymaker Acquisition Corp. II, ARKO Holdings Ltd. and GPM Investments, LLC Close Business Combination under New Company ARKO Corp.
ARKO Corp. to trade on the Nasdaq Stock Market under “ARKO” NEW YORK, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Haymaker Acquisition Corp. II (NASDAQ: HYAC)
About this update from Biote Corp.
[{"type":"text","content":"ARKO Corp. to trade on the Nasdaq Stock Market under “ARKO”\nNEW YORK, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Haymaker Acquisition Corp. II (NASDAQ: HYAC) (“Haymaker”), a publicly traded special purpose acquisition company and ARKO Holdings Ltd. (“Arko Holdings”), an Israeli public holding company (TASE: AKHO) whose primary asset is a controlling stake in GPM Investments, LLC (“GPM”), a rapidly growing leader in the U.S. convenience store industry, announced today that they have satisfied all closing conditions and completed their previously announced business combination. Under the terms of the business combination agreement, Haymaker and Arko Holdings combined under a new company, ARKO Corp. (“ARKO”). Shares of ARKO common stock and ARKO warrants are expected to trade on the Nasdaq Stock Market under the symbols “ARKO” and “ARKOW,” respectively, beginning on December 23, 2020. The business combination was approved by Haymaker’s shareholders on December 8, 2020 and by Arko Holdings’ shareholders on November 18, 2020. Arie Kotler, Chief Executive Officer of ARKO, commented, “Today marks an important milestone as we drive the next chapter of our growth as a U.S.-listed public company. We operate in an attractive and highly fragmented industry and have built a proven platform for acquisitions, as demonstrated by our successful track record of closing transactions. In combination with our attractive remodel program, and the compelling organic growth opportunities we are executing against, we look forward to building on the success we have driven to date, and delivering value for all of our stakeholders.” Remarking from Haymaker, Steven Heyer and Andrew Heyer stated, “We are excited to announce the closing of our combination with Arko Holdings. Arie and his talented team have established a proven platform for growth that will be further strengthened by this combination, and enhanced by the planned multi-year remodel and other organic initiatives. We are looking forward to seeing the team capitalize on the attractive opportunities that lie ahead through established strategic initiatives that are underway.” The business combination was funded through a combination of cash in Haymaker’s trust account and a private placement investment of $100 million in convertible preferred stock from affiliates of MSD Partners, L.P. for a total amount of ...