Sequel Youth and Family Services and Global Partner Acquisition Corp. announced they have entered into a definitive merger agreement. This transaction will enable Sequel to become a Nasdaq-listed public company, with an anticipated initial enterprise value of approximately $423.3M. Immediately upon consummation of the transaction, GPAC will change its name to Sequel Youth and Family Services. For calendar 2017, Sequel forecasts program revenue, total revenue, adjusted EBITDA and free cash flows of $269.2 million, $261.4 million, $43.0 million and $40.0 million, respectively. In the business combination, the Sequel common equity holders will receive newly issued Sequel common units exchangeable initially for 4,500,000 shares of GPAC common stock, $105.0 million in cash, and GPAC warrants to purchase 3,266,000 shares of GPAC common stock. The Sequel preferred equity holders will receive a cash distribution of $30.0 million and approximately $62.2 million in newly-issued Sequel preferred units having certain preferred returns and other rights. At closing, assuming all equity interests to be issued to the Sequel equity holders are exchanged in full for GPAC stock, all of GPAC's founder shares vest, all warrants are exercised for cash and there are no shareholder redemptions, the current Sequel equity holders will own approximately 20.7% of the combined company, with GPAC shareholders owning the remaining approximately 79.3%. Sequel's Co-Founder and Chairman, Jay Ripley will own approximately 14.4%. GPAC intends to pay the cash consideration and transaction expenses for the business combination primarily from the approximately $155.3 million of cash currently in its trust account and approximately $2.8 million in borrowings at closing under Sequel's revolving credit facility. The transaction has been approved by the boards of directors of both GPAC and Sequel. Completion of the transaction is subject to approval by the GPAC stockholders and certain other conditions. The transaction is expected to close in April 2017.