Spear Point Capital Management, LLC ("Spear Point") and Silverback United, Inc. (still trading under ML Capital Group, Inc. [OTC:MLCG] pending FINRA approval of name and ticker symbol change) announced they will host a webinar to explain the terms of Spear Point's recent proposal to acquire Rite Aid Corporation in a take-private transaction valued at approximately $3.6 billion, including long-term debt, not including operating leases.
Fundamental to that proposal, Spear Point noted that its data valuation and monetization partner, Silverback, has made a preliminary determination that Rite Aid's data may have significant value that could exceed the equity value of the company. In its Term Sheet, Spear Point offered to enlist Silverback's services to value Rite Aid's data as part of its due diligence process. Furthermore, Spear Point offered to share that valuation with the board of Rite Aid and allow the company to seek a higher value after the data valuation had been presented. Rite Aid refused that offer.
Therefore, on April 28, 2022, Spear Point and Silverback will host a joint webinar in which the Spear Point team will walk webinar participants through its Term Sheet, and give insights into its strategic vision for Rite Aid. Silverback will present its data valuation methodology and monetization strategy that underpins the transaction's value proposition. Interested parties can register for the "Twitter Spaces" webinar at: https://silverbackinc.com or https://twitter.com/i/spaces/1YqGopapwzjJv
"We would like to invite Rite Aid's shareholders, stakeholders, and management to join us in a discussion about why we think Rite Aid is significantly undervalued and explore management's inability to unlock that value. We would also welcome Rite Aid CEO Heyward Donigan or any other member of the company's senior management to join us to explain the company's position on the proposed offer and how they expect to create significant shareholder value in the coming years. Because, obviously, the only logical reason to not even explore our proposal would be that they have a superior plan to create even greater shareholder value. I would love to hear it, as I suspect shareholders would. The shareholders deserve more and we have a plan to give them that."
About Spear Point:
Spear Point Capital Management LLC ("Spear Point") is a deep value investor specializing in special situations. Our investment strategy combines intensive due diligence, an active role in addressing corporate governance and strategy, and a highly concentrated portfolio, creating superior value in our portfolio companies.
About Silverback:
Silverback United Inc. is the leader in the rapidly emerging industry of treating data as an asset. This new asset class will have a global impact on balance sheets and income statements in the near term, and usher in new financial options leveraging the value of data and increasing overall corporate valuations. As the market continues to evolve, there will be unprecedented opportunities to create significant amounts of high-margin, recurring revenue streams that will result in margin expansion and higher profitability across the economy. Silverback and its subsidiaries are uniquely positioned to dominate the industry.
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Original Source: Spear Point and Its Data Valuation/Monetization Partner Silverback to Provide Details on Non-Binding Offer to Acquire Rite Aid in the First Data-Backed Leveraged Buyout
