Followers | 42 |
Posts | 5751 |
Boards Moderated | 0 |
Alias Born | 04/12/2021 |
Monday, December 05, 2022 6:59:21 AM
Coffee Holding to Merge with Bulk Logistics Provider
By Dean Seal
Coffee Holding Co. has signed an agreement with the privately held logistics firm Delta Corp Holdings Ltd. to merge into a single entity that will operate under the name Pubco.
The wholesale coffee roaster and dealer said Friday that under the terms of the deal, its shareholders will receive one share of the new company for each Coffee Holding share they own, while Delta stockholders will exchange their shares for $625 million in ordinary shares of the new company, at an implied share price of $5.50.
Pubco will have an implied enterprise value of about $655 million, with Delta shareholders collectively owning about 95% of the outstanding shares and Coffee Holdings shareholders owning the rest.
Trading in shares of Coffee Holdings, which closed at $2.42 on Thursday, was halted when the news was released. After premarket trading resumed at 9 a.m. ET, shares shot up as high as 30%, sank to a loss minutes later and continued to fluctuate before market open. They are down more than 44% this year.
The transaction is expected to close in early 2023, pending approval from Coffee Holding shareholders, and that Pubco is slated to trade under the ticker symbol DLOG on the Nasdaq.
Pubco will be engaged in Bulk & Energy logistics, fuel supply, asset management-related services and commodities, including coffee, with a multinational footprint.
The combined company will be led by Delta's existing management team, while Coffee Holding will operate as a subsidiary of Delta and be led by its current president and chief executive, Andrew Gordon, who called the transaction a "transformative next step" for the company.
Delta Chief Executive Mudit Paliwal said the merger will allow the company to expand its business and enter new markets, while broadening its "energy transition, sustainability and environmental stewardship related service offerings."
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
September 30, 2022 09:14 ET (13:14 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.”
my posts are always theory and not financial advice
Recent JVA News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/16/2024 01:05:38 PM
- Coffee Holding Co., Inc. Reports an Approximately 19% Increase in Net Sales During Third Quarter of 2024 • GlobeNewswire Inc. • 09/16/2024 01:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 09/13/2024 09:00:35 PM
- Coffee Holding Co., Inc. Terminates Merger with Delta Corp Holdings Limited • GlobeNewswire Inc. • 06/24/2024 12:30:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/17/2024 09:06:45 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 06/14/2024 08:49:40 PM
- Form 425 - Prospectuses and communications, business combinations • Edgar (US Regulatory) • 03/07/2024 10:01:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/07/2024 10:00:15 PM
- COFFEE HOLDING CO., INC. ANNOUNCES SPECIAL MEETING OF STOCKHOLDERS TO VOTE ON PROPOSED BUSINESS COMBINATION WITH DELTA CORP HOLDINGS LIMITED; FORM F-4 DECLARED EFFECTIVE • GlobeNewswire Inc. • 03/07/2024 02:15:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/13/2024 03:53:00 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/09/2024 09:56:58 PM
- Form NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 • Edgar (US Regulatory) • 01/30/2024 09:01:04 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/04/2024 09:16:29 PM
- Form 425 - Prospectuses and communications, business combinations • Edgar (US Regulatory) • 11/29/2023 10:01:17 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/29/2023 10:00:20 PM
- Form 425 - Prospectuses and communications, business combinations • Edgar (US Regulatory) • 11/03/2023 09:01:28 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/03/2023 09:00:31 PM
- Coffee Holdings Co., Inc. Issues Business Update Following 2023 Annual Meeting • GlobeNewswire Inc. • 11/03/2023 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/27/2023 09:15:31 PM
- Form ARS - Annual Report to Security Holders • Edgar (US Regulatory) • 10/06/2023 08:48:31 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 10/06/2023 08:30:25 PM
- Form 425 - Prospectuses and communications, business combinations • Edgar (US Regulatory) • 09/28/2023 01:06:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/28/2023 01:05:13 PM
- Form 425 - Prospectuses and communications, business combinations • Edgar (US Regulatory) • 09/28/2023 01:02:58 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/28/2023 12:57:34 PM
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM