M&A · Industrials · Services-Video Tape Rental
Soul Entertainment, Inc. to acquire Redbox Entertainment Inc.
Announced May 11, 2022 · Closed Aug 11, 2022
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Soul Entertainment, Inc. (CSSE)
- Target
- Redbox Entertainment Inc.
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Aug 11, 2022
Deal protections
- Break fee (target pays)
- $15.0M
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Guggenheim
- To the target
- PJT Partners, Kroll
- Guggenheim fee
- $15.0M
Sector context · Industrials
- Comparable deals
- 64 in the prior 24 months
- Premium
- Sector median 47.0%
- EV / Adj. EBITDA
- Sector median 10.9x
- Break fee
- Sector median 2.8%
Timeline
- AnnouncedMay 11, 2022
- Proxy filedJul 15, 2022
- Definitive proxyJul 15, 2022
- Shareholder voteAug 9, 2022
- ClosedAug 11, 2022
Valuation · fairness opinions
Discounted cash flowGuggenheim$6.49$11.58
Trading comparablesGuggenheim$5.42$24.25
Trading comparablesKroll$3.35$5.28
Trading comparablesKroll$17.62$30.43
Implied value per Redbox Entertainment Inc. share by analysis, from Guggenheim and Kroll.