March 1, 2024

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Enjoy Technology Completes Business Combination with Marquee Raine Acquisition Corp. to Become a Publicly Traded Company Reinventing “Commerce at Home”

6 min read
Enjoy Technology Completes Business Combination with Marquee Raine Acquisition Corp. to Become a Publicly Traded Company Reinventing “Commerce at Home”

The company blend was authorised at a particular meeting of Marquee Raine shareholders held on Oct 13, 2021. Love elevated much more than $250 million gross in advancement money about the training course of the transaction.

“These days marks a substantial milestone for Take pleasure in,” reported Ron Johnson, CEO and Founder of Get pleasure from. “At Get pleasure from, we are pioneering the future disruptive channel in retail as we reinvent ‘Commerce at Household.’ We are launching our Sensible Final MileTM alternative to reimagine the last mile for our companions by offering rapid, handy and individualized experiences for clients. As a general public firm, we consider Delight in is poised to scale our small business, add new solutions and satisfy our partners’ requests to speed up our expansion into new markets. We are excited to embark on this new chapter with Marquee Raine and all of our investors as we fulfill the predicted rising desire for Appreciate.”

“We feel Delight in is at the forefront of the transformation underway in retail, driven by an unmatched stage of purchaser fulfillment and its proprietary cellular technologies system,” stated Tom Ricketts, Co-Chairman of Marquee Raine, Government Chairman of the Chicago Cubs and a member of Enjoy’s Board of Directors. “With its progressive system and potent partnerships with the world’s main purchaser corporations, we believe that Take pleasure in is positioned for very long-phrase advancement and success. We look forward to doing the job with Ron and the full Get pleasure from crew through its future chapter as a public business.”

“We are thrilled to entire our blend with Appreciate,” stated Brett Varsov, Co-CEO of Marquee Raine, Lover at The Raine Team and a member of Enjoy’s Board of Directors. “As Get pleasure from enters the general public markets, the Company has a robust marketplace placement, is increasing its relationships with important partners and is producing the correct investments to capitalize on its 1st-mover benefit to achieve extended-phrase development and success.”

CEO and Founder Ron Johnson will carry on to lead the merged firm, along with Enjoy’s administration staff, by way of Enjoy’s next stage of growth, innovation and enlargement with its key associates.

As the retail sector accelerates its shift towards “Commerce at Property,” Get pleasure from continues to see rising demand for its customized, practical retail ordeals and services. This quarter, Love is launching its total Sensible Previous MileTM resolution in North The us, a transformational assistance expansion that positions Delight in to accessibility considerably extra stock and address a larger share of its partners’ shopper desire in time for the 2021 getaway period. In reaction to requests from its companions, Enjoy plans to develop to serve a full of around 100 marketplaces in North The united states and expand its international population protection to about 235 million addressable consumers.

Appreciate will be ringing the Nasdaq opening bell at 9:30 a.m. ET on Oct 18, 2021. The opening bell ceremony will be broadcast stay on Nasdaq’s site.

The Raine Team (“Raine”) acted as guide economical advisor to Marquee Raine. Houlihan Lokey acted as fiscal advisor to Marquee Raine. Credit score Suisse Securities (United states of america) LLC (“Credit history Suisse”) acted as lead cash marketplaces advisor and economic advisor to Get pleasure from. Goldman Sachs & Co. LLC (“Goldman Sachs”) also acted as economical advisor to Love. Baird, Stifel Nicolaus & Organization, Telsey Advisory Group, LLC and Loop Funds Marketplaces acted as funds marketplaces advisors to Love. Weil, Gotshal & Manges LLP acted as lawful advisor to Marquee Raine and Cooley LLP acted as authorized advisor to Get pleasure from.

Raine, Credit rating Suisse and Goldman Sachs acted as placement agents on the personal placement.

About Delight in Technological innovation
Appreciate Engineering is a technological innovation-powered system reinventing “Commerce at Residence” to provide the most effective of the shop directly to the shopper. Enjoy has shaped multi-calendar year commercial associations with some of the world’s top buyer makes to carry the solutions, companies and subscriptions their prospects appreciate through the door directly in the comfort and comfort of their properties. Established by Ron Johnson, previously Head of Apple Retail and a member of Apple’s govt staff, Love has pioneered a new retail experience that we believe that can do anything a conventional retail experience gives, but far better, by its Mobile Retailers. Enjoy at this time operates in the United States, Canada and the United Kingdom. Headquartered in Palo Alto, CA, Enjoy is top the reinvention of “Commerce at House.” To discover more about Love, remember to take a look at:

About Marquee Raine Acquisition Corp.
Marquee Raine Acquisition Corp. is a blank check out company whose company function is to impact a merger, share trade, asset acquisition, share order, reorganization or very similar organization mixture with one or a lot more companies or entities. Whilst the business may pursue an acquisition prospect in any business enterprise business or sector, it intends to emphasis on large growth sectors of TMT like, but not confined to, prospects in interactive leisure and games, actual money gaming, electronic media, sports and athletics-enabled property, wellness and wellness, out-of-home and are living enjoyment, audio content and podcasting, know-how, or other opportunities in adjacent sectors.

Forward Wanting Statements
This press launch incorporates forward-seeking statements within the meaning of the federal securities rules. All statements other than statements of historic truth contained in this release, together with statements about Enjoy’s long run working outcomes and economic position, organization tactic and options, goals of management for foreseeable future operations are forward-searching statements. These statements are based on Enjoy’s existing expectations, assumptions, estimates and projections. These statements contain recognized and mysterious hazards, uncertainties and other vital variables that may perhaps trigger Enjoy’s true results, functionality or achievements to be materially distinctive from any long run outcomes, efficiency or achievements expressed or implied by the forward-seeking statements. Ahead-wanting statements are primarily based on management’s present-day anticipations and assumptions regarding the Enjoy’s business, the overall economy and other long term conditions.

In some conditions, you can identify forward-hunting statements by terms such as “imagine,” “challenge,” “assume,” “anticipate,” “estimate,” “intend,” “technique,” “long term,” “option,” “approach,” “may possibly,” “really should,” “will,” “would,” “will be,” “will proceed,” “will likely final result” or the destructive of these phrases or other related expressions. Ahead-on the lookout statements are predictions, projections and other statements about long run gatherings that are based mostly on current anticipations and assumptions and, as a final result, are issue to pitfalls and uncertainties. Lots of components could cause real future activities to differ materially from the ahead-hunting statements in this push release, such as, devoid of limitation, those people things explained in the Company’s filings with the Securities and Trade Fee.

For the reason that forward-wanting statements are inherently subject to risks and uncertainties, some of which simply cannot be predicted or quantified, you should not depend on these ahead-hunting statements as predictions of upcoming events. Ahead-looking statements communicate only as of the date they are built. New pitfalls and uncertainties come up in excess of time, and it is not achievable for Enjoy’s to forecast all those functions or how they may possibly have an affect on Enjoy. If a alter to the activities and circumstances mirrored in Enjoy’s ahead-seeking statements happens, Enjoy’s organization, monetary issue and running success may perhaps change materially from those expressed in Enjoy’s ahead-hunting statements. If a adjust to the situations and circumstances reflected in Enjoy’s forward-looking statements occurs, Enjoy’s enterprise, money affliction and working final results may possibly differ materially from those people expressed in Enjoy’s forward-seeking statements. Other than as expected by relevant regulation, Enjoy does not strategy to publicly update or revise any ahead-seeking statements contained herein, regardless of whether as a end result of any new details, long term events or usually.

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