- Coffee Holding Co Inc prison entered into a definitive merger and share swap agreement with a Bulk & Energy logistics holding company, Delta Corp Holdings Limited.
- Coffee Holding and Delta will each become wholly owned subsidiaries of a newly incorporated holding company incorporated under the laws of the Cayman Islands. Delta Corp Holdings Limited (pubco).
- The combined public company will have a pro forma implied diluted enterprise value of approximately $655 million.
- The transaction will close at a 127% premium to Coffee Holding’s share price, resulting in an implied price per share of $5.50.
- Delta shareholders become majority shareholders of Pubco.
- The deal is expected to close in the first quarter of 2023.
- The newly formed company is expected to trade on the Nasdaq under the ticker symbol “DLOG”.
- hold coffee held $1.4 million in cash and equivalents as of July 31, 2022.
- Price promotion: JVA shares trade 1.03% lower at $2.40 on the last check Friday.
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