SIGNA Sports United is going public on the NYSE

SIGNA Sports United has entered into an agreement for a business combination with Yucaipa Acquisition Corporation, a publicly traded special purpose acquisition company. The combination also includes the acquisition of the WiggleCRC Group.

• SIGNA Sports United (SSU) is merging with Yucaipa Acquisition Corporation at an implied enterprise value of approximately $3.2 billion.
• The transaction involves gross proceeds of up to approximately $645 million, consisting of a cash contribution of approximately $345 million from Yucaipa’s escrow account (assuming no redemptions) and a fully committed, increased PIPE investment of approximately $300 million.
• The merger will accelerate SSU’s international expansion, including the simultaneous acquisition of WiggleCRC, the world’s second-largest online bicycle retailer, and the investment in SSU’s technology platform.
• The combined company is a proven and profitable business with expected net revenue of
  approximately $1.6 billion for the fiscal year ending in September 2021 (pro forma figures reflecting the merger with WiggleCRC).
• The PIPE financing is being led by Ron Burkle, leading global institutional investors, and sovereign wealth funds.
• SSU’s existing shareholders will contribute 100% of their shareholdings to the new publicly traded company.
• Bridgepoint, the current majority shareholder of WiggleCRC, will receive a portion of the purchase price
  in the form of shares in the new publicly traded company.
• In the twelve-month period ending March 31, 2021, SSU’s largest segment, “Bike & Outdoor,” achieved an adjusted EBITDA margin of approximately 10% in its core markets in the DACH region, while recording revenue growth of approximately 40% compared to the same period last year; in the rest of Europe, revenue growth exceeded 60% compared to the same period last year.