Enhanced Inks $1.2 Bln Merger Deal With A Paradise To Go Public

A Paradise Acquisition a

10.05 USD -0.30%

• Charts
• News
• Analysen

Kaufen Verkaufen

(RTTNews) - Enhanced Ltd., a sports and performance products company, announced on Wednesday that it has inked a merger deal with A Paradise Acquisition Corp. (APAD), a special purpose acquisition company or SPAC.

The merger values Enhanced at $1.2 billion and is expected to provide up to $200 million in gross cash proceeds upon the closing, assuming no redemptions by SPAC shareholders.

The proceeds from the transactions will be used for key growth areas, including athlete recruitment and compensation, enhanced games production, and others.

Under the terms, Enhanced will merge with a wholly owned subsidiary of A Paradise, which will then merge with A Paradise and change its name to Enhanced Group Inc. The new company's shares will be listed on Nasdaq under the ticker symbol, 'ENHA.'

The transaction is expected to be closed in the first half of 2026. Post transaction, existing Enhanced shareholders will maintain around 81% of Enhanced Group Inc.

Immediately prior to the merger deal, Enhanced closed a $40 million equity private placement in the form of a Simple Agreement for Future Equity, or SAFE, which is convertible into Enhanced public company shares following consummation of the merger.

Investors in the SAFE have received one warrant for every two shares exercisable for two years at a $1.2 billion valuation if the merger is consummated.

If the merger is not closed, SAFE investors would become shareholders of Enhanced, providing committed capital to execute the inaugural 2026 Enhanced Games.

The Inaugural Enhanced Games will be held in Las Vegas on May 24, 2026.