GB - Global Blue receives $225M strategic growth equity investment from CK Opportunities Fund

Global Blue (NYSE:GB) entered into an investment agreement with CK Opportunities Fund I,  an investment fund co-managed by Certares Opportunities, a global travel, tourism and hospitality investment firm, and Knighthead Opportunities Capital Management, credit investment management firm. The agreement is based on shareholder approval at its Extraordinary General Meeting, expected to take place by June 2022. CK Opportunities has agreed to invest $225M, of which $180M is for Series B preferred shares and $45M is for common shares. The new Series B preferred shares will be issued at a price of $8.50/share, a premium of ~62% to yesterday’s closing price of $5.24; Series B preferred stock will carry a 5% annual pay-in-kind dividend rate and are convertible into ~21M registered common shares on a one-for-one and basis. CK Opportunities’ as-converted ownership in Global Blue will be just over 13% of the total issued share capital on a fully-diluted basis. The company plans to use the

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Global Blue receives $225M strategic growth equity investment from CK Opportunities Fund