Coffee Holding (JVA) to merge with Delta Corp in $655M deal; JVA holders get 4.79% of Pubco

COFFEE HOLDING CO INC

JVA shareholders receive 1 Pubco share per JVA share, valued at $5.50/share (127% premium to JVA's last close).
Delta's FY2021 revenue $532M, net income $45M; 171% revenue growth and 828% net income growth YoY.
Earn-out: Delta holders get up to $50M additional Pubco shares if Delta achieves $70M+ net income in FY2023.
Go-shop period until Oct 19, 2022; JVA board unanimously approved; expected close Q1 2023.
Combined company to trade on Nasdaq under symbol 'DLOG'; Delta management to lead.

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