Scepter to Merge with Ballengee Group a $47 million Sports Agency [Yahoo! Finance]
SCEPTER HOLDINGS INC (BRZL)
NASDAQ:AMEX Investor Relations:
marketwired.com/press-release/scepter-holdings-inc-completes-merger-with-ip-motor-sports-pinksheets-brzl-2242402.htm
Company Research
Source: Yahoo! Finance
BSG Holdings will receive a split of Scepter stock and seller notes valued at $47 million. Scepter will receive all the membership interests of the Ballengee Group, LLC a sports management agency located in Dallas, Texas. Scepter will gain an agency that generates approximately $4.7 million in EBITDA - which is guaranteed by the the owners of Ballengee Group for the next 3 years. The transaction is conditioned upon a reverse split and an increase in authorized shares and is expected to close as soon as those conditions are met. BSG Holdings will hold a controlling majority of the outstanding stock of Scepter after the transaction. "The addition of Scepter's social media optimization software, AdaptAI, with our full-service sports agency should be a perfect fit," said James Ballengee, owner of The Ballengee Group. "We are constantly seeking new ways to bring additional revenue opportunities to our athletes and AdaptAI will help our athletes broaden and strengthen their social media s
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