Israel Acquisitions and Pomvom enter business combination to trade on NASDAQ

Israel Acquisitions and Pomvom, a technology company that develops experiential content to amusement parks and attractions globally, announced a definitive business combination agreement at a total equity value for Pomvom of $125M. The combined company will trade on the Nasdaq. Pomvom serves many theme park and attraction operators globally, including, parent companies Six Flags, Warner Bros. and Merlin Entertainment. Strategic long-term agreements signed in 2023 with Warner Bros. and Six Flags are expected to increase the number of partner sites for Pomvom to 47 sites by the end of 2024 – a 23% increase from its current 38 sites. Pomvom’s launch of digital content across its partner sites is expected to leverage its new online platform and accelerate long-term growth. Pomvom revenues in 2022 were approximately $57.4M. Upon completion of the transaction, including the capital injection of at least $20M from the business combination, the company targets at least a 30% increase in top-line revenues, with a 2024 expectation of reaching a positive adjusted EBITDA. Pomvom shareholders holding a majority of the company’s issued share capital will sign support agreements displaying support of the transaction within 30 days of the Business Combination Agreement. The combined company’s Board of Directors will have up to 7 directors in the first stage, of which 2 directors will be nominated by ISRL and up to 5 directors will be nominated by the company. The parties anticipate completing the business combination by the end of Q3 2024. At the closing of the transaction, Pomvom will be delisted from the Tel Aviv Stock Exchange and listed solely on the Nasdaq in the U.S.