Unique Logistics to merge with Edify Acquisition, list on Nasdaq

Unique Logistics announced that it has signed a definitive agreement and plan of merger with Edify Acquisition, a special purpose acquisition company, for a proposed business combination of the two companies. Under the merger agreement, subject to satisfaction of the closing conditions contained therein, Unique will merge with a subsidiary of Edify, and thereby become a wholly-owned subsidiary of Edify. Upon completion of the merger, class A common stock of the combined company will be listed on Nasdaq. In conjunction with entering into the merger agreement, the company entered into a commitment letter relating to the provision to the company of a senior secured financing facility in the maximum aggregate principal amount of $35M, which the company intends to use to fund its previously announced pending acquisitions of eight subsidiaries and affiliates of Unique Logistics Holdings, a Hong Kong corporation, pursuant to previously executed stock purchase agreements.