East Resources Acquisition Company Signs Letter of Intent for a Business Combination
The Target has an experienced management team that has built the business into a market sector leader and demonstrated an ability to drive growth and continuously scale the business. The Company expects that it can offer the Target its resources, its experience and its network of relationships to support the Target’s growth and access to more attractive financing terms through access to public markets, making this an attractive potential business combination for the Company’s stockholders. Under the terms of the LOI, the Company and Target would become a combined entity, with the Target’s existing equityholders rolling over 100% of their equity into the combined public company.
The Company expects to announce additional details regarding the proposed business combination when a definitive agreement is executed, which is expected later in the third quarter of 2022.
No assurances can be made that the parties will successfully negotiate and enter into a definitive agreement, or that the proposed transaction will be consummated on the terms or timeframe currently contemplated, or at all. Any transaction would be subject to board and equityholder approval of both companies, regulatory approvals and other customary conditions. The Company is holding a special meeting of its stockholders on
IMPORTANT INFORMATION AND WHERE TO FIND IT
The Company has mailed to its stockholders of record as of
If a legally binding definitive agreement with respect to the proposed business combination is executed, the Company intends to file a preliminary proxy statement (a “Deal Proxy Statement”) with the
The Company urges investors, stockholders and other interested persons to read the Extension Proxy Statement and, when available, the preliminary Deal Proxy Statement as well as other documents filed with the
PARTICIPANTS IN THE SOLICITATION
The Company and its directors and executive officers may be considered participants in the solicitation of proxies with respect to the Extension Amendment Proposal and the potential transaction described herein under the rules of the
NO OFFER OR SOLICITATION
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Annual Report on Form 10-K filed with the
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