Fresh Vine Wine, Inc. Signs Definitive Agreement To Acquire Notes Live, Inc. In All-Stock Transaction; Fresh Vine To Issue Shares To Notes Live Shareholders, Notes Live Is Being Value At $350M Plus Amount Of Gross Proceeds Raised By Notes Live In Current Equity Offering
Portfolio Pulse from Benzinga Newsdesk
Fresh Vine Wine, Inc. has entered into a definitive agreement to acquire Notes Live, Inc. in an all-stock transaction. Notes Live is valued at $350 million plus any gross proceeds from its current equity offering, which could be up to $50 million. Fresh Vine is valued at $18 million. The share distribution to Fresh Vine and Notes Live shareholders will be based on these valuations and adjusted according to Fresh Vine's net cash at closing.
January 29, 2024 | 1:08 pm
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Fresh Vine Wine, Inc. is acquiring Notes Live, Inc. in an all-stock deal, with the latter valued at $350M+ and Fresh Vine at $18M. The deal will affect share distribution and ownership percentages based on company valuations and Fresh Vine's net cash.
The acquisition news is likely to be viewed positively as it represents strategic growth for Fresh Vine Wine, Inc. The valuation of Notes Live at $350M+ suggests a significant addition to Fresh Vine's portfolio. The all-stock nature of the deal indicates confidence in the combined entity's future. However, the final impact on Fresh Vine's stock price will depend on investor perception of the deal's synergies and the future financial performance of the combined company.
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IMPORTANCE 90
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