Fresh Vine Wine (VINE.US) will merge with Colorado-based live entertainment and hospitality company Notes Live.
Zhitong Finance App learned that Fresh Vine Wine (VINE.US) will merge with Colorado-based live entertainment and hospitality company Notes Live. The merger transaction is expected to close in June 2024. Before the US stock market on Monday, as of press release, Fresh Vine Wine rose 3.50% to $0.89. At one point, the stock rose 16%.
The two companies will merge in the form of an all-share transaction. The shareholding ratio will be based on an agreed relative valuation, where Notes Live is valued at $350 million, plus the maximum gross proceeds of $50 million raised by Notes Live in its current stock offering, and Fresh Vine is valued at $18 million.
Notes Live's founder, chairman and CEO JW Roth will serve as the publicly traded company's chairman and CEO after the deal is completed.