Cozen O’Connor is acting as legal counsel to Utz and Kirkland & Ellis LLP is acting as legal counsel to Collier Creek. Collier Creek, Utz and their respective directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Collier Creek's shareholders in connection with the business combination. The company announced last week that it would merge with snack food maker Utz Quality Foods. Proceeds from the transaction were used primarily to repay existing borrowings at Utz. 646-277-1228 Transaction Introduces Utz as Publicly Listed Company After Nearly 100 Years as Family-Owned Business. The Moving Average Convergence Divergence (MACD) oscillator is in a take profits sell mode but could cross to the upside for a fresh outright buy signal if prices strengthen from here. Utz Brands' board of directors will be composed of a majority of independent directors under the applicable listing rules of the New York Stock Exchange. Utz expects to generate net sales of $932 million in 2020. Assuming no redemptions by the public shareholders of Collier Creek, the approximately $453 million in cash held in Collier Creek's trust account, together with the $35 million private placement, will be used to pay cash consideration to the current Utz owners, pay transaction expenses, and reduce the Company's existing indebtedness to approximately 3.1x estimated 2020 Pro Forma Adjusted EBITDA. Collier Creek intends to file a registration statement with the SEC which will include a preliminary proxy statement and preliminary prospectus of Collier Creek in connection with the proposed business combination and, after the registration statement is declared effective, will mail a proxy statement/prospectus and other relevant documents to its shareholders. As a public company, I am confident that Utz will continue to grow its importance within the salty snack industry, bringing more of our brands to an ever-greater consumer audience across the U.S.", "Utz Brands is a phenomenal business combination that meets all of the criteria we established when we launched Collier Creek," said Mr. Deromedi. "As we approach our 100-year anniversary, we are excited to take this important step forward to position Utz for its next century of growth," said Mr. Lissette. Such shareholders will also be able to obtain copies of the proxy statement, without charge, once available, at the SEC's website at http://www.sec.gov, or by directing a request to: Collier Creek Holdings, 200 Park Avenue, 58th Floor, New York, NY 10166, attention: Bradford Williams (firstname.lastname@example.org). The Company’s iconic portfolio of authentic, craft, and better-for-you brands includes Utz®, Zapp’s®, Golden Flake®, Good Health®, Boulder Canyon®, Hawaiian® Brand, and TORTIYAHS!®, among others . Utz Brands cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. In this daily Point and Figure chart of CCH, below, we can see some limited activity from April (look for the "4" on the chart). At the closing of the transaction, Collier Creek was domesticated as a Delaware corporation and the name of Collier Creek has been changed to Utz Brands, Inc. (NYSE: UTZ). The Rice and Lissette family, who founded Utz, will retain more than 90% of their existing equity stake, representing 50% ownership in the new company. Joele Frank, Wilkinson Brimmer Katcher Utz also entered into a merger agreement with Arizona-based Inventure Foods in 2017, which allowed it to sell its brands, including TGI Fridays and Nathan's Famous.
This merger between Utz and Collier Creek Holdings has also prompted the company to go public.
Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Harry Mergel (* 11.
Dylan Lissette, who has served as Utz's CEO since 2013 and has worked at the Company for almost 25 years, will continue to lead the business along with the existing management team. When the transaction closes, the ticker will change to UTZ and the company will be called Utz thereafter. Gillian Tan. ", "Our partnership with Utz is consistent with our philosophy of investing in high-quality, durable businesses with compelling growth opportunities," said Mr. Chu. Lissette said a in statement: “As we approach our 100-year anniversary, we are excited to take this important step forward to position Utz for its next century of growth.
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