Corrected: BRIEF-Sequel Youth and Family Services and Global Partner Acquisition announce agreement for business combination (Jan 11)

Stardust Power

12/01/2017 06:17

(Corrects adjusted EBITDA figure in 1st bullet to $43 million, 
from $261.4 million; removes extraneous words 'total revenue' 
from 5th bullet) 
    Jan 11 (Reuters) - Global Partner Acquisition Corp  GPAC.O : 
    * Says for calendar 2017, Sequel forecasts adjusted EBITDA 
of $43 million 
    * Says Sequel common equity holders will also receive GPAC 
warrants to purchase 3.3 million shares of GPAC common stock 
    * Sequel Youth and Family Services and Global Partner 
Acquisition Corp. announce agreement for business combination 
    * Says immediately upon consummation of transaction, GPAC 
will change its name to Sequel Youth and Family Services Inc 
    * Says for fiscal year ending June 30, 2017, Sequel 
forecasts program revenue of $253.9 million 
    * Says deal will enable Sequel to become a Nasdaq-listed 
public co, with anticipated initial enterprise value of about 
$423.3 million 
    * Says Sequel management team will continue to lead combined 
company following business combination 
    * Says intends to pay cash consideration and transaction 
expenses for deal primarily from about $155.3 million of cash in 
its trust account 
    * Says for fiscal year ending June 30, 2017, Sequel 
forecasts free cash flow of $36.8 million 
    * Says Sequel equity holders will receive newly issued 
Sequel common units exchangeable initially for 4.5 million 
shares of GPAC stock, $105.0 million in cash 
 
Source text for Eikon:  ID:nPn83kBa  
Further company coverage:  GPAC.O  
 
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