EW YORK, Nov. 29, 2021 (GLOBE NEWSWIRE) — Boxed, an e-commerce grocery platform which sells bulk consumables and licenses its e-commerce software to enterprise retailers, and Seven Oaks Acquisition Corp. (Nasdaq: SVOK, SVOKU, SVOKW), a publicly-traded special purpose acquisition company, today provided updates related to their proposed business combination.
Seven Oaks has entered into a forward purchase agreement for up to $100 million with an affiliate of Atalaya Capital Management LP, a privately held, SEC-registered alternative investment advisory firm that focuses primarily on private credit and special opportunities investments. Please refer to Seven Oaks’ current report on Form 8-K, filed today with the SEC, for additional information.
On June 13, 2021, Boxed and Seven Oaks entered into a definitive agreement relating to the business combination that would result in Boxed becoming a public company upon the closing of the transaction. Boxed also announced its intention to list on the New York Stock Exchange (“NYSE”) upon the closing of the business combination, which is expected in the fourth quarter of 2021. The combined company will be called Boxed, Inc. and its common stock and warrants are expected to list on the NYSE under the new ticker symbols “BOXD” and “BOXD WS,” respectively.
About Boxed
Boxed is an e-commerce retailer and an e-commerce enabler. The Company operates an e-commerce retail service that provides bulk pantry consumables to businesses and household customers, without the requirement of a “big-box” store membership. This service is powered by the Company’s own purpose-built storefront, marketplace, analytics, fulfillment, advertising, and robotics technologies. Boxed further enables e-commerce through its Software & Services business, which offers customers in need of an enterprise-level e-commerce platform access to its end-to-end technology. The Company has developed a powerful, unique brand, known for doing right by its customers, employees and society.
About Seven Oaks Acquisition Corp.
Seven Oaks Acquisition Corp. is a special purpose acquisition company formed for the purpose of entering into a business combination. Its goal is to deliver attractive and sustainable returns to investors through an investment in a growth-oriented company that aspires to make a positive social impact with an emphasis on good Environmental, Social and Governance (“ESG”) practices. Seven Oaks raised $258.75 million in its initial public offering in December 2020 and its securities are listed on Nasdaq under the tickers “SVOK,” “SVOKU” and “SVOKW.” Seven Oaks is led by an experienced team of managers, operators and investors who have played important roles in helping build and grow profitable public and private businesses to create value for stockholders. For more information please visit www.sevenoaksacquisition.com.
