Business Wire

Rimini Street, Inc. Completes Merger With GP Investments Acquisition Corp.

Del

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced the closing of its merger with GP Investments Acquisition Corp. (“GPIAC”). The combined company will retain the Rimini Street, Inc. name, and its common stock will be listed on the Nasdaq exchange and begin trading today as “RMNI.”

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171011005443/en/

Rimini Street, Inc. Completes Merger with GP Investments Acquisition Corp. (Photo: Business Wire)

Rimini Street, Inc. Completes Merger with GP Investments Acquisition Corp. (Photo: Business Wire)

The transaction consideration consisted of approximately 65.6 million shares of GPIAC common stock valued at $10.00 per share to Rimini Street’s equity holders. Raised investment funds of $50 million include cash proceeds from the issuance of 3.6 million shares of GPIAC common stock at $10.00 per share to an affiliate of GP Investments, Ltd., and a third round of equity participation by Rimini Street’s largest shareholder, Adams Street Partners. Investment proceeds were used to provide additional cash to the balance sheet, reduce total debt and pay certain transaction expenses.

The Rimini Street executive team, led by founder, CEO and chairman of the board of directors Seth A. Ravin, will continue to manage the combined company. In connection with the transaction, the Rimini Street board of directors has increased from seven members to nine members. Mr. Ravin and all current Rimini Street board members will continue their roles going forward, with the addition of Antonio Bonchristiano, CEO of GP Investments, Ltd., and Andrew Fleiss, managing director of GP Investments, Ltd., joining the board.

“Rimini Street has delivered 46 consecutive quarters of revenue growth by providing value-driven, innovative support solutions and exceptional service that meet the global needs of enterprise software licensees. With the completion of this merger and transition to being a publicly-traded stock, the combined business is better positioned to further capitalize on the $160 billion global addressable market for software maintenance and support,” said Mr. Ravin, Rimini Street CEO. “The Company intends to leverage the additional opportunities afforded by the merger, investment raise and access to capital markets to expand our distinctive service offerings and capabilities in new markets and regions organically or through potential strategic acquisitions.”

Advisors

Cowen served as financial and capital markets advisor to Rimini Street, and Citigroup Inc. acted as advisor to GPIAC. Wilson, Sonsini, Goodrich & Rosati, P.C. and Cooley LLP acted as legal counsel to Rimini Street, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to GPIAC.

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software support products and services, and the leading third-party support provider for Oracle and SAP software products. The company has redefined enterprise software support services since 2005 with an innovative, award-winning program that enables licensees of IBM, Microsoft, Oracle, SAP and other enterprise software vendors to save up to 90 percent on total support costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,330 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries currently rely on Rimini Street as their trusted, third-party support provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (IR-RMNI)

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our industry, future events, as well as expected post-closing management, the estimated or anticipated future results and benefits of Rimini Street following the transaction, including the expected post-transaction ownership and cash and debt balances, future opportunities for the combined company, estimates of Rimini Street’s total addressable market, and projections of customer savings. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street's business and the transaction, and actual results may differ materially. These risks and uncertainties include, but are not limited to, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse litigation developments; inability to refinance existing debt on favorable terms; changes in taxes, governmental laws, and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the loss of one or more members of GPIAC's or Rimini Street's management team; failure to realize the anticipated benefits of the transaction, including difficulty in integrating the businesses of GPIAC and Rimini Street; uncertainty as to the long-term value of RMNI common stock; the inability to realize the expected amount and timing of cost savings and operating synergies; those discussed in GPIAC's Annual Report on Form 10-K for the year ended December 31, 2016 under the heading "Risk Factors," as updated from time to time by GPIAC's Quarterly Reports on Form 10-Q and other documents of GPIAC on file with the Securities and Exchange Commission ("SEC") or in the joint proxy statement/prospectus filed with the SEC by GPIAC. There may be additional risks that Rimini Street presently knows or that Rimini Street currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements provide Rimini Street's expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street's assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Rimini Street's assessments as of any date subsequent to the date of this communication.

© 2017 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

Contact information

Rimini Street, Inc.
Investor relations contact:
Dean Pohl, +1 925-523-7636
dpohl@riministreet.com
or
Media relations contact:
Michelle McGlocklin, +1 925-523-8414
mmcglocklin@riministreet.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Robinson Fresh® and Verfrut Bring Premium Fruit to Europe21.2.2018 04:00Pressemelding

Robinson Fresh®, a division of C.H. Robinson, is now the primary provider of Verfrut products in Europe. Verfrut is one of the largest fruit growers in South America with items such as grapes, apples, stone fruit, cherries, pears, kiwifruit, clementines and organic bananas. With this strategic alliance, the companies bring together expertise in cold chain logistics and produce to provide a more integrated fruit offering to Europeans. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180220006476/en/ “When we heard Verfrut was looking for opportunities to expand into the European market, we knew we could work together to bring these premium products to our customers,” Robert Walsleben, European director for Robinson Fresh, said. “Verfrut is one of the largest fruit growers out of Chile and Peru. They are also family owned, feature significant production and care about providing flavorful products to their customers. Europeans wil

Bigelow Space Operations Announces Partnership with CASIS to Fly Payloads to the International Space Station21.2.2018 00:18Pressemelding

Bigelow Space Operations (BSO) is proud to announce a partnership with the Center for the Advancement of Science in Space (CASIS), manager of the International Space Station (ISS) U.S. National Laboratory. BSO is officially a user of the ISS National Lab, and will be facilitating the integration of payloads for commercial, academic and government customers. In this capacity, BSO intends to contract with other payload integrating companies where we not only can help those companies to develop their dynamic futures for themselves and their successful clients extending beyond ISS operations, but to also offer ourselves as a customer and understand how to help CASIS. This may be important if CASIS is to someday enable usage of B330 stations. BSO’s mandate is to promote the services of the ISS National Lab, promote other payload facilitating companies and to develop new relationships for the ISS and Bigelow Aerospace stations. BSO will kick off this through a recently awarded CASIS partner

Bigelow Aerospace Announces the Creation of Bigelow Space Operations20.2.2018 22:00Pressemelding

Bigelow Aerospace is excited to introduce Bigelow Space Operations (BSO), a new commercial space company that is the sales, operational and customer service company that manages and operates space stations developed by Bigelow Aerospace. With the two launches of B330-1 and B330-2 expected in 2021, the time is now in 2018 to begin BSO activity. These single structures that house humans on a permanent basis will be the largest, most complex structures ever known as stations for human use in space. The customers that B330 will seek to accommodate will be very diverse. Bigelow Space Operations has a mission to market and operate these and other space stations including future generations developed by Bigelow Aerospace that are so capable, so diverse and so large that they can accommodate virtually unlimited use almost anywhere. Over time, Bigelow Aerospace will manufacture a single station, launched on a single rocket that will contain over 2.4 times the pressurized volume of the entire In

Andersen Tax & Legal Launches in Egypt20.2.2018 14:30Pressemelding

The Andersen name launches in Egypt this week as Maher Milad Iskander and Co., an Egyptian tax and legal firm based in Cairo, formally adopts the name Andersen Tax & Legal. Maher Milad Iskander and Co. became a collaborating firm of Andersen Global in July of 2017 and is one of three that have become member firms and adopted the Andersen name thus far in 2018. Maher Milad Iskander, Managing Partner of Andersen Tax & Legal in Egypt, said, “Andersen Global’s strategy of focusing on outstanding tax and legal services will provide us with many advantages and will allow us to even better serve our cross-border clientele. We are looking forward to our continued work with the Andersen team and to seamlessly providing innovative and client-focused solutions on a global level through our colleagues around the world.” “Egypt is considered to be one of the highest growing markets in the world and our adoption of the Andersen name in Egypt has come at the perfect time,” added Global Chairman and A

Proposals of the Supervisory Board to Be Submitted to the Annual General Shareholders' Meeting of Sartorius AG20.2.2018 14:00Pressemelding

At today’s meeting, the Supervisory Board of Sartorius AG, approved the Executive Board’s recommendation to submit a proposal to the Annual General Shareholders’ Meeting on April 5, 2018, to raise dividends to 0.51 euros per preference share and 0.50 euros per ordinary share. Prior-year dividends were 0.46 euros and 0.45 euros per preference share and per ordinary share, respectively. Therefore, the total amount disbursed under this proposal would increase by 11.0% to 34.5 million euros from 31.1 million euros a year earlier. In addition, the Supervisory Board will submit a proposal to the Annual General Shareholders’ Meeting to elect Dr. Guido Oelkers to the Supervisory Board as a representative of the shareholders. Guido Oelkers has already been a member of this board since November 2017. He was appointed by court order after Supervisory Board member Professor Arnold Picot, Ph.D., had passed away. Guido Oelkers, who was born in 1965 and holds a university degree in business administr

ETECSA Enhances Connectivity to the Rest of the World with SES Networks20.2.2018 14:00Pressemelding

Cubans and visitors to Cuba will have additional access to reliable and uninterrupted connectivity throughout the main island of Cuba as ETECSA, Cuba’s national telecommunications operator, signed a deal with SES Networks for satellite services, SES announced today. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180220005894/en/ ETECSA Enhances Connectivity to the Rest of the World with SES Networks (Photo: Business Wire) SES Networks will augment ETECSA’s existing terrestrial infrastructure with its high-performance fibre-like medium earth orbit (MEO) capacity and improve connectivity for end-customers of the Cuban operator. “By working with SES Networks, we are ensuring that our customers across the main island will have a new way to access high-performing Internet at all times through this innovative satellite system. Our collaboration with SES Networks highlights ETECSA’s mission of providing telecommunications services t