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Hot Stocks
ARKO / GPM receives $100M investment commitment from MSD Partners affiliate » 07:26
11/19/20
11/19
07:26
11/19/20
07:26
HYAC

Haymaker Acquisition

$10.04 /

+0.015 (+0.15%)

ARKO Holdings announced…

ARKO Holdings announced the following:In conjunction with the previously announced business combination, affiliates of MSD Partners, L.P. will purchase up to $100M of convertible preferred stock to support the combined entity's future growth objectives. MSD Partners' investment of up to $100M in convertible preferred stock will occur concurrently with the closing of the business combination. The convertible preferred stock will carry a 5.75% cumulative dividend. The preferred stock will be convertible into shares of common stock at a conversion price of $12.00 per share, representing a premium of 19.5% to Haymaker's closing price of $10.04 on November 18, 2020. Following strong year-to-date results and the recent acquisition of Empire Petroleum Partners' fuel distribution business and retail locations, the Company has raised its projection for fiscal 2020 and expects to deliver adjusted EBITDA, excluding 2020 results from our recently acquired Empire business, in the range of $163M to $167M compared to its prior projection of $145M to $150M. The Company had achieved 94% of its previously projected adjusted EBITDA by September 30, 2020, and achieved positive same store sales in October of 4.8% with performance accelerating as same store sales for the first two weeks of November increased 7.1%. These results, in conjunction with lower expenses and higher fuel profit margins than anticipated, are the foundation for the revised guidance. The Company's higher fuel margin, plus its continuing positive in-store same store sales growth, together with the Company's enhanced store remodel program, have caused the Company to project more robust performance for 2021. The Company's revised projections for 2021 indicate that it will achieve adjusted EBITDA in the range of $217M to $223M compared to its prior projection of $210M to $215M. On November 18, 2020, Arko Holdings Ltd. shareholders approved the proposed business combination between Arko and Haymaker.

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HYAC Haymaker Acquisition
$10.04 /

+0.015 (+0.15%)

Hot Stocks
ARKO / GPM unveils plans for store prototype of the future » 07:23
11/19/20
11/19
07:23
11/19/20
07:23
HYAC

Haymaker Acquisition

$10.04 /

+0.015 (+0.15%)

ARKO Holdings unveiled…

ARKO Holdings unveiled its plans for its store prototype of the future for remodels and raze and rebuilds. GPM currently anticipates that it will remodel approximately 360 of its sites in key locations across the country over the next three to five years. Arko/GPM and Haymaker Acquisition Corp. also announced a commitment for an up to $100M investment in convertible preferred stock from MSD Capital that will be available for growth capital and funding this remodel program. Arko is the controlling shareholder of GPM and, as part of the business combination with Haymaker, the shares of Arko will be de-listed from Tel-Aviv stock exchange. At the closing of the Business Combination with Haymaker, Arko will have no material independent operating activities, income, or net assets, other than its ownership interest in GPM.

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HYAC Haymaker Acquisition
$10.04 /

+0.015 (+0.15%)

Over a month ago
Conference/Events
Haymaker Acquisition participates in a conference call with Odeon Capital » 10:25
10/27/20
10/27
10:25
10/27/20
10:25
HYAC

Haymaker Acquisition

$10.03 /

+ (+0.00%)

Event Driven Analyst…

Event Driven Analyst Channamsetty holds a conference call with the management teams of Arko Holdings, GPM Investments and Haymaker Acquisition Corp II.on October 27 at 11 am hosted by Odeon Capital .

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HYAC Haymaker Acquisition
$10.03 /

+ (+0.00%)

Conference/Events
Haymaker Acquisition participates in a conference call with Odeon Capital » 04:55
10/27/20
10/27
04:55
10/27/20
04:55
HYAC

Haymaker Acquisition

$10.03 /

+0.02 (+0.20%)

Event Driven Analyst…

Event Driven Analyst Channamsetty holds a conference call with the management teams of Arko Holdings, GPM Investments and Haymaker Acquisition Corp II.on October 27 at 11 am hosted by Odeon Capital .

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HYAC Haymaker Acquisition
$10.03 /

+0.02 (+0.20%)

Hot Stocks
Haymaker Acquisition announces investor presentation on ARKO combination » 08:36
10/23/20
10/23
08:36
10/23/20
08:36
HYAC

Haymaker Acquisition

$10.01 /

+0.01 (+0.10%)

Haymaker Acquisition II…

Haymaker Acquisition II furnished an updated investor presentation to the U.S. Securities and Exchange Commission in connection with its proposed business combination with ARKO Holdings. The updated investor presentation includes selected unaudited financial information of the Company for the nine month period ended September 30th, 2020 and reflects the previously announced closing of the Company's acquisition of the wholesale fuel distribution business and retail locations of Empire Petroleum. Arie Kotler, CEOof Arko and GPM commented, "The updated investor presentation reflects the strong results we have continued to deliver as we have already met approximately 94% of our Adjusted EBITDA projections for fiscal 2020 through the first nine months of the year. Underlying these results include strong same-store in-store sales growth despite the lack of government stimulus since August. We have entered the fourth quarter from a position of strength with quarter-to-date same-store in-store sales through October 18th up 4.3%. With our strong performance to date and with ample levers to drive further growth and profitability, we are extremely well positioned to exceed our previously provided financial targets for this year. We look forward to discussing our third quarter results and outlook in more detail in November." Arko's pending business combination with Haymaker Acquisition Corp. II, a special purpose acquisition corporation remains on track for an expected closing in the fourth quarter of 2020. Following the closing, the combined company is expected to become publicly-listed on the NASDAQ stock exchange under the ticker ARKO.

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HYAC Haymaker Acquisition
$10.01 /

+0.01 (+0.10%)

Conference/Events
Haymaker Acquisition participates in a conference call with Odeon Capital » 15:01
10/22/20
10/22
15:01
10/22/20
15:01
HYAC

Haymaker Acquisition

$10.01 /

+0.01 (+0.10%)

Event Driven Analyst…

Event Driven Analyst Channamsetty holds a conference call with the management teams of Arko Holdings, GPM Investments and Haymaker Acquisition Corp II.on October 27 at 11 am hosted by Odeon Capital .

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HYAC Haymaker Acquisition
$10.01 /

+0.01 (+0.10%)

Hot Stocks
ARKO / GPM closes acquisition of Empire Petroleum » 07:20
10/07/20
10/07
07:20
10/07/20
07:20
HYAC

Haymaker Acquisition

$10.00 /

-0.01 (-0.10%)

ARKO Holdings / GPM…

ARKO Holdings / GPM Investments announced the closing of the previously announced acquisition of Empire Petroleum Partners' fuel distribution business and retail locations. The acquisition meaningfully increases GPM's scale and diversifies its business mix, while significantly increasing the Company's cash flow through increased exposure to a highly ratable, consistent wholesale fuel distribution business, and brings its total site count to approximately 3,000 across 33 states. The Empire business, one of the largest and most diversified wholesale fuel distribution businesses in the U.S., will add approximately 1,500 independently operated fueling stations to GPM's existing fuel distribution network. Currently the seventh-largest convenience store chain in the U.S., GPM will also add approximately 85 company-operated convenience stores and will materially increase its footprint, expanding the Company's reach into 10 new states of operation as well as the District of Columbia. Empire's wholesale fuel distribution business complements GPM's retail business and will serve as an additional vehicle for the Company's future acquisitions and organic growth. In addition, the acquisition will increase GPM's scale, further diversify the Company's existing cash flow and augment GPM's strategic flexibility to rationalize sites between its retail and wholesale business. GPM will operate its wholesale division out of Empire's Dallas, TX offices and will be transitioning Empire's team to GPM as part of the transaction. Empire is a portfolio company of American Infrastructure Funds. Barclays and Wells Fargo served as co-financial advisors to Empire. Capital One Securities, Inc. served as financial advisor to GPM Petroleum LP. In addition, Capital One, National Association serves as Administrative Agent, Lead Arranger and Bookrunner to GPM's $500 million Revolving Credit Facility. KeyBanc Capital Markets Inc. and Santander Bank, N.A. also serve as Joint Lead Arrangers and Joint Bookrunners to the Credit Facility. The closing of the transaction follows the Federal Trade Commission's approval on August 25, 2020. GPM originally entered into an agreement to purchase Empire Petroleum's business in December 2019. The completed acquisition comes amid Arko's pending business combination with Haymaker Acquisition Corp. II, a special purpose acquisition corporation. The Business Combination, which is expected to close in the fourth quarter of 2020, is expected to result in the combined company becoming publicly-listed on the NASDAQ stock exchange under the ticker ARKO.

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HYAC Haymaker Acquisition
$10.00 /

-0.01 (-0.10%)

Hot Stocks
Haymaker Acquisition, ARKO Holdings, GPM announce business combination » 06:04
09/09/20
09/09
06:04
09/09/20
06:04
HYAC

Haymaker Acquisition

$10.12 /

+0.065 (+0.65%)

Haymaker Acquisition…

Haymaker Acquisition Corp. II, ARKO Holdings, an Israeli public holding company whose primary asset is a controlling stake in GPM, and GPM Investments, announced that they, and certain other related parties, have entered into definitive agreements for a business combination, pending shareholder approval. The transaction is expected to close in the fourth quarter of 2020 and upon closing, the combined company is expected to be listed on the Nasdaq Stock Market under the ticker symbol "ARKO." Given substantial rollover from existing equityholders, upon completion of the transaction, pro-forma leverage, defined as Net Debt to 2020E Pro Forma Adjusted EBITDA, is expected to be approximately 1.7x. It is anticipated that the combined company will have an equity market capitalization at closing of approximately $1.4B. Anticipated total enterprise value, pro-forma for the pending acquisition of Empire Petroleum which GPM anticipates closing in the beginning of the fourth quarter of 2020, is expected to be approximately $2B, or ~9x GPM's 2021E Pro Forma Adjusted EBITDA.

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HYAC Haymaker Acquisition
$10.12 /

+0.065 (+0.65%)

Over a quarter ago
Hot Stocks
Haymaker Acquisition, Arko Holdings, GPM sign non-binding LOI to combine » 05:35
07/13/20
07/13
05:35
07/13/20
05:35
HYAC

Haymaker Acquisition

$10.50 /

+0.05 (+0.48%)

Haymaker Acquisition,…

Haymaker Acquisition, Arko Holdings, and GPM Investments announced that they have entered into a letter of intent, or LOI, for a business combination. The companies said in a release, "The business combination would result in 100% of both GPM and Arko combining with Haymaker with substantial rollover from existing equityholders; currently Arko owns 68% of GPM and the remaining 32% is held by Davidson Kempner Capital Management LP, funds managed by Ares Management Corporation, and Harvest Partners SCF, L.P. Under the terms of the LOI, the enterprise value of the combined company is approximately $1.5 billion, implying ~9.0x estimated proforma 2021E Adjusted EBITDA. Haymaker and Arko will announce additional details regarding the proposed business combination when a definitive agreement is executed, which is expected to occur in the third quarter of this year, with a closing anticipated before year end. No assurances can be made that the parties will successfully negotiate and enter into a definitive agreement, or that the proposed transaction will be consummated on the terms or timeframe currently contemplated, or at all. Any transaction would be subject to board and equityholder approval of all companies, regulatory approvals, and other customary conditions. The combined company will be led by GPM's current management team, which has significant industry and public market experience, including Arko's and GPM's Chief Executive Officer, Arie Kotler. Arko and GPM will also benefit from Haymaker's investing and operational experience at Fortune 500 companies, particularly in the consumer and hospitality sectors."

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