Here you can see me calling this out as a pump and dump in the comments. Diamondback Energy will add top-tier horizontal drilling locations across three zones in the Northern Midland Basin to its portfolio as part of the Ajax acquisition. The transaction values the combined company at a pro forma enterprise value of approximately $7.0 billion and a pro forma equity value of approximately $8.1 billion. Diamondback Energy will add top-tier horizontal drilling locations across three zones in the Northern Midland Basin to its portfolio as part of the Ajax acquisition. Transaction expected to provide $1,605m in gross proceeds including $805m cash in trust from AJAX I and an $800m PIPE led by the AJAX sponsors and D1 Capital Partners and joined by new and existing investors including Altimeter, funds & accounts managed by BlackRock, Counterpoint Global (Morgan Stanley) and Fidelity Management and Research Company LLC, Marcho Partners, Mubadala Capital, Pelham Capital, Senator Investment Group and Spruce House Partnership. AJAX I (AJAX), up +4% today, announced this morning that it is taking Cazoo public in a deal valued at $7bn EV and 1.3x 2023E sales. Charlotte, NC – Ajax I operates as a blank check company. Subscribe for free to our newsletters for the latest energy news. Additional information about the proposed transaction, including a copy of the business combination agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by AJAX with the Securities and Exchange Commission (“SEC”) and will be available on the Cazoo website at www.cazoo.co.uk/investors and at the SEC’s website at www.sec.gov. Cazoo has a world class team, led by Founder & CEO Alex Chesterman OBE and the transaction will accelerate growth across Europe including subscription model, brand & vertical infrastructure. Ajax I (NYSE: AJAX) has an all-star ... Former SPACs: Desktop Metal Inc (NYSE: DM) completed its merger in 2020 and saw shares fall over 20% … AJAX and Cazoo will host a joint investor conference call to discuss the proposed transaction on March 29, 2021 at 02.00 ET/07.00 UK. The AJAX sponsor team, led by Dan Och, and including Glenn Fuhrman, Steve Ells, Jim McKelvey, Kevin Systrom and Anne Wojcicki have personally committed $200 million to the PIPE. We have created the most comprehensive and fully integrated offering in the largest retail sector which currently has very low digital penetration. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. This communication relates to a proposed business combination among Cazoo Holdings Limited (“Cazoo”), AJAX I (“AJAX”) and Capri Listco (“Newco”). Connecting upstream production to the downstream sector and putting midstream in the center of it all. Interested parties may listen to the prepared remarks call via telephone by dialing 1-844-512-2921, or for international callers, 1-412-317-6671 or listen to the webcast here: While such information and projections are necessarily speculative, AJAX, Newco and Cazoo believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. Cazoo, the UK’s leading online car retailer, announces $7.0bn business combination with AJAX I. Cazoo is one of Europe’s fastest growing digital businesses, growing 300%+ year-over-year, with expected 2021 revenues approaching $1bn. This post of the same pump and dump style. This page includes all SEC registration details as well as a list of all documents (S-1, Prospectus, Current Reports, 8-K, 10K, Annual Reports) filed by Ajax I. Lakeridge/Ajax-Pickering merger cost: $18.2 million Scarborough/Centenary merger cost: $29.6 million Total cost to date: $47.8 million There is no financial rationale for the mergers. Additional information and Where to Find It Cazoo’s mission is to transform the car buying experience for consumers across Europe by providing better selection, quality, transparency, convenience and peace of mind. Ajax I is regulated by the U.S. Security and Exchange Commission and incorporated in the state of Cayman Islands. AJAX 10.00 0.00 (0.00%). The inclusion of financial information or projections in this communication should not be regarded as an indication that AJAX, Newco or Cazoo, or their respective representatives and advisors, considered or consider the information or projections to be a reliable prediction of future events. Assuming no redemptions by AJAX shareholders, Cazoo’s existing shareholders will hold approximately 79% of the shares of the combined company on closing. Ajax I is primarely in the business of blank checks. (Source: Hart Energy/Shutterstock.com), [Editor's note: This story was updated at 2:26 p.m. CST Aug. This transfer statistic shows the compact view of the highest sold players by Ajax in the Overall statistics of current season season. Assuming no redemptions and after accounting for cash proceeds payable to the existing Cazoo shareholders, the transaction will deliver approximately $1.0 billion in gross cash proceeds to the combined company, enabling Cazoo to further build out its brand and infrastructure and supporting Cazoo’s mission to continue to transform the car buying experience across Europe. Investors Aren't Thrilled About the Ajax-Cazoo Merger, But It May Yet Offer Value April 3, 2021 | finance.yahoo.com Ajax's Daley Blind to miss rest of Eredivisie … The transaction requires the approval of the shareholders of AJAX and Cazoo, and is subject to other customary closing conditions, including the receipt of certain regulatory approvals. Numis is also acting as financial advisor to Cazoo. About 220 of those net potential locations are in the top quartile of the company’s current inventory, generating 100% or greater internal rate of returns at $60 per barrel across three zones, CEO Travis Stice said. AJAX or AJAX I Acquisition Corp is a SPAC managed by Dan Och (Co-Founder of 50b+ AUM’s Och-Ziff Capital Management Group and Willoughby Capital’s founder/current chairman) and … Media: The foregoing list of factors is not exhaustive. Investor Conference Call Information Emily Patsy can be reached at epatsy@hartenergy.com. The company will continue to be led by its Founder & CEO, Alex Chesterman OBE, along with its world class management team. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. © 2021 Hart Energy. Facebook Twitter Pinterest LinkedIn Reddit Hacker News VK Odnoklassniki Telegram Viber WhatsApp. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed business combination; (2) the outcome of any legal proceedings that may be instituted against AJAX, Cazoo, Newco or others following the announcement of the proposed business combination and any definitive agreements with respect thereto; (3) the inability to complete the proposed business combination due to the failure to obtain approval of the shareholders of AJAX, to obtain financing to complete the proposed business combination or to satisfy other conditions to closing; (4) changes to the proposed structure of the proposed business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the proposed business combination; (5) the ability to meet stock exchange listing standards following the consummation of proposed business combination; (6) the risk that the proposed business combination disrupts current plans and operations of AJAX or Cazoo as a result of the announcement and consummation of the proposed business combination; (7) the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the proposed business combination; (9) changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in, or the inability to obtain regulatory approvals required to complete the proposed business combination; (10) the possibility that AJAX, Cazoo or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the impact of COVID-19 on Cazoo’s business and/or the ability of the parties to complete the proposed business combination; (12) Cazoo’s estimates of expenses and profitability and underlying assumptions with respect to shareholder redemptions and purchase price and other adjustments; and (13) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in AJAX’s final prospectus relating to its initial public offering dated October 27, 2020. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Cazoo was founded in 2018 by serial entrepreneur Alex Chesterman OBE, has a highly experienced management team and is backed by some of the leading global technology investors. The Ajax acquisition is expected to close at the end of October and will have an effective date of Credit Suisse International and Goldman Sachs International are acting as lead financial advisors to Cazoo. It seeks to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar … LONDON & NEW YORK--(BUSINESS WIRE)--Cazoo Holdings Limited (“Cazoo” or “the Company”), the UK’s leading online car retailer with a fast-growing presence in Europe, which makes buying a car as simple and seamless as purchasing any other product online, and AJAX I (“AJAX”) (NYSE: AJAX), a publicly-traded special purpose acquisition company (“SPAC”), today announced the signing of a definitive business combination agreement. The Boards of Directors of Cazoo and AJAX have unanimously approved this transaction. The latest technologies, technical solutions and strategies in Exploration, Drilling, Production and more. Several factors may have contributed to the fall. Diamondback To Acquire Ajax Resources For $1.2 Billion, Meritorious Awards for Engineering Innovation (MEAs), the recent dropdown to its minerals subsidiary, Breathing Life into Brownfields: Innovation to Extend Asset Life, Mexican Oil Output Slightly Below Target Agreed with OPEC+, Exxon Mobil Strikes Oil at Uaru-2 Offshore Guyana. Date Added Proposed Merger Last Close Price Momentum factor 10 Momentum factor 200 Shares outstanding Average trading volume % traded Action; AACQ: Artius Acquisition Inc. - Class A: $725,224,500: 02/24/2021: On 2/17/2021 the company announced a pending merger with Origin Materials, the world’s leading carbon negative materials company. Cazoo Holdings Limited and AJAX I announced the signing of a definitive business combination agreement. Advisors Ajax was formed in June 2015 with backing from New York-based private equity firm Kelso & Co. to acquire W&T Offshore Inc.’s (NYSE: WTI) Permian Basin assets known as the Yellow Rose Field for about $376 million. While Cazoo had many options for funding its strategy, its decision to merge with AJAX and join with Dan Och and other renowned partners was a good one that will have positive implications for the company and its future.". Forward-Looking Statements Press J to jump to the feed. Cazoo Ltd. founder Alex Chesterman is mulling a merger with a blank-check firm that could value the U.K. used-car platform at as much as 6 billion pounds ($8.3 … The proxy statement/prospectus will be sent to all AJAX shareholders and Newco and AJAX will also file other documents regarding the proposed business combination with the SEC. The position includes an average 99% working interest with 23% royalty burden and is roughly 99% operated. Prices for top E&P stocks and commodities. The merged company will … Diamondback Energy Inc. (NASDAQ: FANG) said Aug. 8 it will acquire Ajax Resource LLC in a cash-and-stock transaction worth roughly $1.25 billion that is set to deepen the Permian operator’s drilling inventory while further consolidating the Northern Midland Basin E&P landscape. Post-Market 0.00 (0.00%) Participants in Solicitation How to edit or update Data using PHP Ajax - Learn How to edit or update Data using PHP Ajax starting from it's overview insert, retrieve, Delete, Filter, upload image etc . You may obtain free copies of these documents from the sources indicated above. This transaction will support Cazoo’s mission to continue to transform the car buying experience across Europe, with the proceeds funding the further build out of its brand and infrastructure. At that point, Och and management certainly could have … Jefferies LLC was sole financial adviser to Ajax for the transaction and Thompson & Knight LLP served as its legal adviser. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Notice each account I called out was suspended. This communication contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed business combination, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the services offered by Cazoo and the markets in which it operates, and Cazoo’s projected future results. Citigroup and J.P. Morgan Securities LLC are also acting as placement agents on the PIPE. “I am extremely proud of what the Ajax team accomplished over the past three years. Diamondback will also pick up midstream infrastructure from the Ajax acquisition including saltwater gathering and disposal plus existing freshwater production and ownership of over 700 surface acres. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act, or an exemption therefrom. Upon completion of the Ajax acquisition, Diamondback’s total leasehold interests in the Permian Basin will grow to roughly 230,000 net surface acres. Mexico’s output totaled about 1.72 MMbbl/d. Click here for industry-related transactions. Now that boards on … Featured. Ajax’s acreage position is roughly 89% HBP, which will allow for 12-plus well multizone pad development in the Middle Spraberry, Lower Spraberry and Wolfcamp A, according to the Diamondback press release. Kirkland & Ellis LLP is acting as legal counsel to AJAX I. A searchable database of oil and gas debt and equity offerings. With their constant focus on innovation, data and customer satisfaction, I have no doubt that Cazoo is going to continue to lead the way in this massive, untapped market opportunity and am looking forward to joining the Board of Cazoo and working with Alex and his team.”, Daniel Sundheim, Founder & CIO of D1 Capital Partners said, "As a long-term investor in Cazoo and believer in its leadership team, we are pleased to continue supporting Cazoo's growth as a public company. ICR for Cazoo - cazoo@icrinc.com. AJAX Acquisition Corporation may merge with TransferWise. “These results highlight the value of this acreage in our existing portfolio, and more than doubles Diamondback’s inventory to 680 net pro forma locations in this area.”. Europe’s used car market is $700bn opportunity with <2% online, ripe for digital transformation. For financial reporting, their fiscal year ends on December 31st. A comprehensive source for coverage of the financial landscape of the oil and gas industry. The Merger Deal Between Cazoo and AJAX I (NYSE: AJAX) Shows That SPACs Are Finally Addressing the Thorny Issue of Skewed Sponsor Compensation Rohail Saleem • Mar 29 10 AJAX is a $805m SPAC, founded by renowned US investor Dan Och in partnership with Glenn Fuhrman and a team of strategic advisors including the founders of Chipotle, Instagram, Square and 23andMe. The Ajax acquisition is expected to close at the end of October and will have an effective date of July 1. Subscribe to get unmatched coverage of the oil and gas industry’s entire landscape. Real-time trade and investing ideas on Apex Technology Acquisition Corp - Ordinary Shares - Class A APXT from the largest community of traders and investors. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters. The company's position covers about 25,493 net leasehold acres in the Northern Midland Basin with production of more than 12,100 boe/d (88% oil). Cazoo is pioneering the shift to online car buying in Europe and since being founded in 2018, has delivered over 20,000 cars to consumers across the UK who have embraced the selection, transparency and convenience of buying quality used cars entirely online. … The parties aim to close the transaction before the end of June. 13.]. The transaction is expected to close in the third quarter of 2021. It seeks to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar … This communication does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AJAX’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and other documents filed by AJAX from time to time with the SEC and the registration statement on Form F-4 and proxy statement/prospectus discussed above. Already the leading online car retailer in the UK, Cazoo has begun its international expansion as it seeks to digitally disrupt the $700bn European used car market which remains overwhelmingly offline. AJAX is a blank check company whose purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Information on assets, buyers and sellers, deal values, and more. Rextag database of energy infrastructure assets. As one of Europe’s fastest-growing businesses, Cazoo expects to achieve revenues approaching $1bn in 2021, a growth rate of more than 300% in its second full year of operations and has already built a team of over 1,800 across the UK, Germany, France and Portugal. Ajax I NYSE Updated Apr 23, 2021 11:59 PM. Lucid Motors SPAC Merger News. This deal will provide us with almost $1 billion of further funds to fuel our growth and I am delighted to be partnering with Dan and his team at AJAX to rapidly expand and deliver the best car buying experience to consumers across Europe.”, Dan Och, Founder of AJAX said, “We are incredibly excited to have the opportunity to partner with Alex and the exceptional team at Cazoo. Cazoo aims to make buying a car no different to any other product online today, where consumers can simply and seamlessly purchase, finance or subscribe to a car entirely online for either delivery or collection in as little as 72 hours. No Offer or Solicitation In addition, the documents filed by AJAX may be obtained free of charge from AJAX’s website at https://ajaxcap.com or by written request to AJAX at 667 Madison Avenue, New York, NY 10065 and documents filed by Cazoo may be obtained free of charge from Cazoo’s website at https://www.cazoo.co.uk or by written request to Cazoo at 41-43 Chalton St, Somers Town, London NW1 1JD, United Kingdom. Press question mark to learn the rest of the keyboard shortcuts Investors and security holders will be able to obtain free copies of the registration statement, proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by AJAX and Newco through the website maintained by the SEC at www.sec.gov. Database of selected U.S. and international exploration wells. Called for AJAX and plaid to be a done deal with their title. Readers are cautioned not to put undue reliance on forward-looking statements, and Cazoo, AJAX and Newco assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Following its recent acquisitions, Cazoo is also now Europe’s leading car subscription player with over 6,000 subscribers across the UK, Germany and France. As per the statement released by Cazoo and AJAX I, the merger values the combined company at $7 billion and is expected to close in Q3 2021. Cazoo has an unparalleled user experience with 80+ NPS and market-leading brand awareness. Transaction Overview Upon closing of the transaction, the combined company will be named Cazoo and will be listed on the New York Stock Exchange under the new ticker symbol “CZOO”. Additional information regarding the participants in the solicitation of proxies from AJAX’s shareholders and their direct and indirect interests will be included in the proxy statement/prospectus for the proposed business combination when it becomes available. In the merger, outstanding shares of Celularity capital stock, options and warrants will be converted into shares of common stock, options and warrants, respectively, of the combined company at an implied Celularity equity value of $1.25 billion. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. In connection with the proposed business combination Newco intends to file a registration statement on Form F-4 that will include a proxy statement of AJAX in connection with AJAX’s solicitation of proxies for the vote by AJAX’s shareholders with respect to the proposed business combination and a prospectus of Newco. Diamondback will purchase Ajax for $900 million cash and 2.58 million shares of common stock valued at $345 million based on the closing price of its stock on Aug. 6. Publish date: Mar 29, 2021. Brunswick: Chris Blundell / Simone Selzer +44 20 7404 5959 / cazoo@brunswickgroup.com, AJAX: Gagnier Communications, Dan Gagnier / Jeff Mathews +1 646-569-5897 / ajax@gagnierfc.com, Investor Relations: Cazoo has developed a market leading platform and brand with a fully integrated model where it owns and reconditions all its cars before offering them for sale on its website for either delivery or collection in as little as 72 hours. With its best-in-class and unique consumer proposition and fully integrated model, Cazoo is well positioned to take advantage of the shift to online car buying and disrupt the huge and highly fragmented European car buying market. Ardea Partners LP … None of Cazoo, AJAX or Newco gives any assurance that any of Cazoo, AJAX or Newco will achieve its expectations. Advisors. "wtf lol, OP went full on sherlock holmes on this thing. December 20, 2020. AJAX’s founder, Dan Och, will join the combined company’s Board of Directors. This communication does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. New technology and a commitment to reducing total expenditure have changed the way the industry thinks about and executes life extension projects, Baker Hughes' Alistair Mykura says. About AJAX – www.ajaxcap.com Any financial and capitalization information or projections in this communication are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of AJAX, Newco and Cazoo. With these values in mind lets move to AJAX 2.0 AJAX. http://public.viavid.com/index.php?id=144120. SPAC: Churchill Capital IV (NYSE:CCIV) Private … Upon closing of the Diamondback transaction, Ajax said it intends to continue to pursue new acquisition and development opportunities. https://247wallst.com/investing/2020/12/29/5-spac-ipos-to-watch-in-2021 http://public.viavid.com/index.php?id=144120. AJAX, Newco and Cazoo and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from AJAX’s shareholders with respect to the proposed business combination. 15, representing a 7 percent fall year-to-date and a 20 percent drop from its recent high. SPAC AJAX I (AJAX) taking Cazoo public in a deal valued at $7b EV and 1.3x 2023E sales. Freshfields Bruckhaus Deringer is acting as legal counsel to Cazoo. “Credit is due to the Ajax team for displaying impressive results in two emerging zones for the area, the Wolfcamp A and Middle Spraberry,” Stice said in a statement. “This transaction represents a logical transition for the Ajax asset base, as it complements Diamondback’s acreage position very well and further consolidates the Northern Midland Basin,” Ajax CEO Rich Little said in a statement. The units will be listed on The New York Stock Exchange (the “NYSE”) and will trade under the ticker symbol “AJAX.U” beginning on October 28, 2020. Before making any voting or investment decision, investors and security holders are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed business combination as they become available because they will contain important information about the proposed transaction. Additionally, rumors of the Ajax-Cazoo merger leaked a few weeks ago and investors panned the idea on social media. AJAX and Cazoo will host a joint investor conference call to discuss the proposed transaction on March 29, 2021 at 02.00 ET/07.00 UK. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You can find information about AJAX’s directors and executive officers and their ownership of AJAX’s securities in AJAX’s final prospectus relating to its initial public offering, dated October 27, 2020, which was filed with the SEC on October 28, 2020 and is available free of charge at the SEC’s web site at www.sec.gov. AJAX was founded by renowned US investor Dan Och in partnership with Glenn Fuhrman and strategic advisors including Steve Ells (founder, Chipotle), Jim McKelvey (co-founder, Square), Kevin Systrom (co-founder, Instagram) and Anne Wojcicki (co-founder, 23andMe). Ajax I operates as a blank check company. Merger vote date is March 25th, then ticker will change to paysafe a few days later In none of the documents supporting the mergers by the government [s appointed panel, the Local Health Integration Network, the Ministry of Health and the The acquisition of Ajax will add 362 net identified potential horizontal drilling locations with an average lateral length of over 9,500 ft to Diamondback’s portfolio. Forward-looking statements speak only as of the date they are made. The transaction includes up to $805 million AJAX cash in trust, assuming no redemptions by AJAX shareholders, and an $800 million fully committed PIPE at $10.00 per share led by the AJAX sponsors and D1 Capital Partners and joined by new and existing investors including Altimeter, funds & accounts managed by BlackRock, Counterpoint Global (Morgan Stanley) and Fidelity Management and Research Company LLC, Marcho Partners, Mubadala Capital, Pelham Capital, Senator Investment Group and Spruce House Partnership. 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