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Here’s the Cut’s list of the best datings app of 2019.
The transaction is expected to close early in the third quarter of 2019, subject to the approval of Spark Networks SE shareholders, receipt of a permit authorizing the issuance of the ADSs, and the satisfaction of other customary closing conditions.
Over 75% of Spark shareholders have committed to vote in favor of the transaction.
Spark will issue 12.98 million American Depository Shares (ADSs) valued at approximately 0 million based on the closing price of Spark Networks SE stock of .53 on March 20, 2019.
Additionally, Zoosk shareholders will receive net cash consideration of million at closing and million via a deferred cash payment in December 2020, which will be funded through a new 0 million senior secured debt facility.
With the increased scale that results from the combination, we see a clear path to profitability improvements and greater opportunity to invest in innovation and growth initiatives that will drive shareholder value.” With the addition of Zoosk, Spark will more than double in size and the combined business will be considerably more valuable than the two stand-alone entities: “We are excited to help create such a broad and powerful portfolio of brands that will address specific user needs in the dating market globally, while leveraging the best of both companies to create a world-class platform to serve customers across these brands,” said Steven Mc Arthur, Zoosk’s CEO, who will be joining the Board of Directors of Spark.
Transaction Details Under the terms of the agreement, Spark will acquire 100% of Zoosk’s shares with a combination of cash and stock valuing the company at approximately 5 million based on the closing price of Spark Networks SE stock on March 20, 2019.
Over the past 18 months, our management team has successfully integrated acquisitions and developed new brands.
From there, the liked user has the option to start the conversation. Tinder The original swiping app, with a simple premise: Swipe right if you like someone.