OneSpaWorld exchanges 94% of public warrants and 43% of private warrants for common shares

ONESPAWORLD HOLDINGS Ltd

Total 15.18M public warrants (94% of outstanding) and 3.44M private warrants (43%) exchanged.
Public warrant exchange ratio initially 0.178 common shares per warrant, max 0.220 based on VWAP.
Outstanding public warrants reduced by 78.2% to 3.53M from 16.15M.
Affiliated holders exchanged private warrants at fixed 0.175 ratio and agreed to 60-day transfer lock-up.
Closing expected April 25, 2023, subject to customary conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ONESPAWORLD HOLDINGS Ltd entered into Warrant Exchange Agreements with certain holders of the Company's public warrants and private warrants valued at Exchange of 15,176,824 Public Warrants and 3,443,909 Private Warrants for common shares (effective 2023-03-13).

Action: entry
Counterparty: certain holders of the Company's public warrants and private warrants
Value: Exchange of 15,176,824 Public Warrants and 3,443,909 Private Warrants for common shares
Effective: 2023-03-13

Exact text from the filing

On March 13, 2023, OneSpaWorld Holdings Limited (the “Company”) previously announced that it had 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 such Public Warrant Holders agreed to exchange an aggregate of 9,917,150 Public Warrants for common shares of the Company, par value $0.0001 per share (the “Common Shares”).

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ONESPAWORLD HOLDINGS Ltd filing history →

Source: SEC EDGAR

accession 0001193125-23-074129

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