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CORRECTED-BRIEF-Sequel Youth and Family Services and Global Partner Acquisition announce agreement for business combination (Jan 11)
January 11, 2017 / 9:46 PM / 10 months ago

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

(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 :

* 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: Further company coverage:

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