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125-unit fast-casual concept signs letter of intent with blank-check company
Opes Acquisition Corp., a publicly traded blank check company, and BurgerFi International have agreed to a merger that would take the North Palm Beach, Fla.-based “better burger” brand to the public markets, the companies said Monday.
Under terms of the non-binding letter of intent, BurgerFi’s shares would be rolled over into a majority of the equity in the combined public company.
BurgerFi, founded in 2011, is a fast-casual “better burger” concept with about 125 company-owned and franchised locations in 23 states and two countries abroad.
Opes and BurgerFi said they intend to execute a definitive agreement by the end of June, with a closing expected in the third quarter of 2020. The transaction must be approved by the two companies’ board,...
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