OneSpaWorld enters warrant exchange to reduce public warrants by 61.4%

ONESPAWORLD HOLDINGS Ltd

Entered exchange agreements with holders of 9,917,150 public warrants; outstanding warrants reduced by 61.4% to 6,228,129.
Initial exchange ratio of 0.178 common shares per warrant (warrant price $1.912, share price $10.74); max 0.220 after 30-day VWAP.
Closing expected on April 25, 2023, subject to customary closing conditions.
TD Cowen served as financial advisor on the transaction.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ONESPAWORLD HOLDINGS Ltd entered into Warrant Exchange Agreements with certain holders of the Company’s public warrants valued at an aggregate of 9,917,150 Public Warrants (effective 2023-03-13).

Action: entry
Agreement: equity purchase
Counterparty: certain holders of the Company’s public warrants
Value: an aggregate of 9,917,150 Public Warrants
Effective: 2023-03-13

Exact text from the filing

On March 13, 2023, OneSpaWorld Holdings Limited (the “Company”) entered into Warrant Exchange Agreements (the “Exchange Agreements”) with certain holders (the “Public Warrant Holders”) of the Company’s public warrants (the “Public Warrants”), pursuant to which the Public Warrant Holders agreed to exchange an aggregate of 9,917,150 Public Warrants for common shares of the Company

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Source: SEC EDGAR

accession 0001193125-23-068507

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