AUSTIN, Texas, Dec. 22, 2020 /PRNewswire/ — E2open (the “Firm”), a number one network-based supplier of 100% cloud-based, end-to-end provide chain administration software program, and CC Neuberger Principal Holdings I (NYSE: PCPL), a publicly traded particular objective acquisition firm, at the moment offered an replace on actions as they transfer ahead with their deliberate mixture, together with the announcement of an extra $175 million fully-committed PIPE at $10 per share led by a really respected and highly-concentrated long-only investor. The PIPE additionally consists of help from one of many largest prior elementary buyers within the transaction.
The extra PIPE will lead to a complete fairness funding of $1.3 billion raised within the transaction, which will likely be used to pay down current debt, buy a portion of the fairness owned by current E2open homeowners and conservatively capitalize the Firm’s stability sheet. At closing, it’s anticipated that the corporate may have a internet leverage ratio of roughly 2.7x its fiscal 12 months 2022 Professional Forma Adjusted EBITDA of $121 million (February fiscal 12 months finish).
“We’re excited so as to add one other blue-chip, long-term companion to our investor base. This funding is a recognition of the large alternative in entrance of us and unlocks additional capability for funding in natural development and a sturdy pipeline of acquisition alternatives to drive shareholder worth creation,” stated Michael Farlekas, Chief Government Officer of E2open.
CC Neuberger Principal Holdings I has set a document date of December 23, 2020, and the transaction is predicted to shut early within the first calendar quarter of 2021. Administration expects to supply a preliminary replace of the unaudited monetary outcomes from its third fiscal quarter of 2021 in January.
At E2open, we’re making a extra related, clever provide chain. It begins with sensing and responding to real-time demand, provide and supply constraints. Bringing collectively knowledge from shoppers, distribution channels, suppliers, contract producers and logistics companions, our collaborative and agile provide chain platform allows firms to make use of knowledge in actual time, with synthetic intelligence and machine studying to drive smarter selections. All this complicated data is delivered in a single view that encompasses your demand, provide and logistics ecosystems. E2open is altering every part. Demand. Provide. Delivered.
Go to www.e2open.com.
E2open, the E2open emblem, Concord and INTTRA are registered emblems of E2open, LLC. All different emblems, registered emblems and repair marks are the property of their respective homeowners.
About CC Neuberger Principal Holdings I
CC Neuberger Principal Holdings I is a particular objective acquisition firm that accomplished its preliminary public providing in April 2020, elevating $414 million in proceeds. Shaped and led by Chinh E. Chu, Douglas Newton, Charles Kantor and different senior professionals of CC Capital and Neuberger Berman, CC Neuberger Principal Holdings I is a clean examine firm fashioned for the aim of coming into right into a merger, share trade, asset acquisition, share buy, reorganization or comparable enterprise mixture with a number of companies. CC Neuberger Principal Holdings I’s Class A typical shares, items, and warrants commerce on the NYSE below the symbols “PCPL” and “PCPL WS,” respectively.
In reference to the proposed enterprise mixture, together with the domestication of CC Neuberger Principal Holdings I as a Delaware company, CC Neuberger Principal Holdings I has filed with the SEC a registration assertion on Type S-4 containing a draft proxy assertion and a draft prospectus of CC Neuberger Principal Holdings I, and after the registration assertion is asserted efficient, CC Neuberger Principal Holdings I’ll mail a definitive proxy assertion/prospectus referring to the proposed enterprise mixture to its shareholders. This announcement doesn’t comprise all the data that ought to be thought of in regards to the proposed enterprise mixture and isn’t meant to kind the premise of any funding determination or some other determination in respect of the enterprise mixture. CC Neuberger Principal Holdings I’s shareholders and different individuals are suggested to learn the draft proxy assertion/prospectus and the amendments thereto and the definitive proxy assertion/prospectus and different paperwork filed in reference to the proposed enterprise mixture, as these supplies will comprise vital details about CC Neuberger Principal Holdings I, the Firm and the enterprise mixture. When out there, the definitive proxy assertion/prospectus and different related supplies for the proposed enterprise mixture will likely be mailed to shareholders of CC Neuberger Principal Holdings I as of a document date to be established for voting on the proposed enterprise mixture. Shareholders are in a position to get hold of copies of the draft proxy assertion/prospectus, the definitive proxy assertion/prospectus and different paperwork filed with the SEC, with out cost, as soon as out there, on the SEC’s web site at www.sec.gov, or by directing a request to: CC Neuberger Principal Holdings I, 200 Park Avenue, New York, NY 10166.
Members within the Solicitation
CC Neuberger Principal Holdings I and its administrators and govt officers could also be deemed contributors within the solicitation of proxies from CC Neuberger Principal Holdings I’s shareholders with respect to the proposed enterprise mixture. An inventory of the names of these administrators and govt officers and an outline of their pursuits in CC Neuberger Principal Holdings I is contained in CC Neuberger Principal Holdings I’s last prospectus associated to its preliminary public providing dated April 23, 2020, which was filed with the SEC and is on the market freed from cost on the SEC’s website at www.sec.gov, or by directing a request to CC Neuberger Principal Holdings I, 200 Park Avenue, New York, NY 10166. Further data concerning the pursuits of such contributors will likely be contained within the proxy assertion/prospectus for the proposed enterprise mixture when out there.
The Firm and its administrators and govt officers can also be deemed to be contributors within the solicitation of proxies from the shareholders of CC Neuberger Principal Holdings I in reference to the proposed enterprise mixture. An inventory of the names of such administrators and govt officers and data concerning their pursuits within the proposed enterprise mixture is included within the draft proxy assertion for the proposed enterprise mixture.
No Supply or Solicitation
This press launch isn’t a proxy assertion or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not represent a proposal to promote or a solicitation of a proposal to purchase the securities of CC Neuberger Principal Holdings I or the Firm, nor shall there be any sale of any such securities in any state or jurisdiction wherein such provide, solicitation, or sale could be illegal previous to registration or qualification below the securities legal guidelines of such state or jurisdiction. No provide of securities shall be made besides by the use of a prospectus assembly the necessities of the Securities Act.
Ahead Trying Statements
Sure statements on this press launch could also be thought of forward-looking statements. Ahead-looking statements typically relate to future occasions or CC Neuberger Principal Holdings I’s or the Firm’s future monetary or working efficiency. For instance, projections of future development, monetary efficiency, and different metrics are forward-looking statements. In some instances, you’ll be able to determine forward-looking statements by terminology comparable to “might”, “ought to”, “count on”, “intend”, “will”, “estimate”, “anticipate”, “imagine”, “predict”, “potential” or “proceed”, or the negatives of those phrases or variations of them or comparable terminology. Such forward-looking statements are topic to dangers, uncertainties, and different components which may trigger precise outcomes to vary materially from these expressed or implied by such ahead trying statements.
These forward-looking statements are primarily based upon estimates and assumptions that, whereas thought of affordable by CC Neuberger Principal Holdings I and its administration, and the Firm and its administration, because the case could also be, are inherently unsure. Components which will trigger precise outcomes to vary materially from present expectations embody, however usually are not restricted to: (1) the prevalence of any occasion, change or different circumstances that would give rise to the termination of negotiations and any subsequent definitive agreements with respect to the enterprise mixture; (2) the result of any authorized proceedings that could be instituted towards CC Neuberger Principal Holdings I, the mixed firm or others following the announcement of the enterprise mixture and any definitive agreements with respect thereto; (3) the lack to finish the enterprise mixture as a result of failure to acquire approval of the shareholders of CC Neuberger Principal Holdings I, to acquire financing to finish the enterprise mixture or to fulfill different situations to closing; (4) modifications to the proposed construction of the enterprise mixture that could be required or applicable on account of relevant legal guidelines or laws or as a situation to acquiring regulatory approval of the enterprise mixture; (5) the flexibility to fulfill inventory trade itemizing requirements following the consummation of the enterprise mixture; (6) the chance that the enterprise mixture disrupts present plans and operations of the Firm on account of the announcement and consummation of the enterprise mixture; (7) the flexibility to acknowledge the anticipated advantages of the enterprise mixture, which can be affected by, amongst different issues, competitors, the flexibility of the mixed firm to develop and handle development profitably, keep relationships with clients and suppliers and retain its administration and key staff; (8) prices associated to the enterprise mixture; (9) modifications in relevant legal guidelines or laws; (10) the chance that the Firm or the mixed firm could also be adversely affected by different financial, enterprise, and/or aggressive components; (11) the Firm’s estimates of bills and profitability; and (12) different dangers and uncertainties set forth within the part entitled “Threat Components” and “Cautionary Word Relating to Ahead-Trying Statements” in CC Neuberger Principal Holdings I’s last prospectus referring to its preliminary public providing dated April 23, 2020.
Nothing on this press launch ought to be thought to be a illustration by any individual that the forward-looking statements set forth herein will likely be achieved or that any of the contemplated outcomes of such forward-looking statements will likely be achieved. You shouldn’t place undue reliance on forward-looking statements, which communicate solely as of the date they’re made. Neither CC Neuberger Principal Holdings I nor the Firm undertakes any responsibility to replace these forward-looking statements.
The closing of the extra PIPE is conditioned upon the closing of the proposed enterprise mixture. The meant makes use of of the money proceeds of the transaction assumes no redemptions by shareholders of CC Neuberger Principal Holdings I.
Marc P. Griffin
CC Neuberger Principal Holdings I
Jonathan Keehner / Julie Oakes / Kate Thompson
Joele Frank, Wilkinson Brimmer Katcher
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