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BT.A Bt Group Plc

104.75
-0.50 (-0.48%)
Last Updated: 11:40:52
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bt Group Plc LSE:BT.A London Ordinary Share GB0030913577 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50 -0.48% 104.75 104.70 104.80 105.45 104.35 105.40 4,703,926 11:40:52
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Phone Comm Ex Radiotelephone 20.92B 1.91B 0.1916 5.47 10.43B

Mobile-Store Company Enjoy to Go Public Through SPAC Deal

28/04/2021 2:01pm

Dow Jones News


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By Dave Sebastian

 

Mobile-store company Enjoy Technology Inc. is going public through a combination with the special-purpose acquisition corporation Marquee Raine Acquisition Corp., in a deal that values Enjoy at an equity value of $1.64 billion.

Enjoy said it has formed relationships with companies including AT&T Inc., BT Group PLC, Rogers Communications Inc. and Apple Inc. The company said it expects to post about $1 billion in revenue by 2025, representing a 78% compound annual revenue growth rate from 2020 through 2025.

The companies expect the transaction to deliver up to $454 million in gross proceeds to Enjoy, comprising up to about $374 million in cash held in Marquee Raine's trust account and $80 million in additional capital through a private placement priced at $10 a share.

Sponsors of the SPAC are an affiliate of the Raine Group, a telecommunications, media and technology-focused advisory and investment platform, and affiliates of Marquee Sports Holdings, a sports, media, entertainment and hospitality company led by the Ricketts family.

The companies expect the deal to close in the third quarter. Enjoy will be traded on Nasdaq under the ticket "ENJY," the companies said.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

April 28, 2021 08:46 ET (12:46 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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