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Bowlero to Merge With Isos SPAC to Create Publicly Traded Company Valued at $2.6 Billion
- Client News
- July 1, 2021
Paul, Weiss is representing Bowlero Corp, the world’s largest owner and operator of bowling entertainment centers, in its business combination with Isos Acquisition Corporation. The merger will result in Bowlero becoming a NYSE-listed company with an enterprise value of approximately $2.6 billion.
The transaction, which supports the continued expansion of Bowlero, includes a fully committed PIPE (private investment in public equity) transaction of convertible preferred and common stock, anchored by investors including funds managed by affiliates of Apollo Global Management, Inc., Brigade Capital Management, Soros Fund Management LLC, The Donerail Group LP and Wells Fargo Asset Management. The deal is expected to close in October 2021, subject to Isos shareholder approval and customary closing conditions.
The company, previously known as Bowlmor AMF, previously retained Paul, Weiss in a $180 million lawsuit by former employees in which the firm won a dismissal in 2019.
The Paul, Weiss team included corporate partners Jeffrey Marell, Michael Vogel, David Huntington, Caith Kushner, and counsel Jason Tyler; executive compensation partner Lawrence Witdorchic and counsel Ron Aizen; tax partner David Mayo; intellectual property partner Charles Googe; real estate partner Peter Fisch; litigation partners Jaren Janghorbani and Geoffrey Chepiga, and counsel Steven Herzog; and antitrust counsel Yuni Sobel.