KORE Wireless Group, Inc. (“KORE” or the
“Company”), a global leader in Internet of Things (“IoT”)
solutions and worldwide Connectivity-as-a-Service (“CaaS”), today
hosted an investor webcast in connection with its previously
announced definitive merger agreement with Cerberus Telecom
Acquisition Corp. (NYSE: CTAC.U, CTAC, CTAC WS), a
special purpose acquisition company affiliated with Cerberus
Capital Management, L.P.
“I am delighted that Cerberus’s CTAC selected KORE out of the
more than 100 companies they reviewed as a part of the process to
launch their first SPAC,” said Romil Bahl, President and CEO of
KORE. “I look forward to the breadth of Cerberus’ reach and their
high-quality advisors being helpful to KORE’s future growth, and I
am grateful for their insightful comments on our webcast.”
The investor webcast can be accessed here and is also available
on the respective KORE and Cerberus Telecom Acquisition Corp.’s
websites at www.korewireless.com/investors and
www.cerberusacquisition.com.
For any questions or inquiries, please contact
KORE@gatewayir.com.
KORE and CTAC Business Combination Summary
As previously announced on March 12, 2021, KORE and CTAC have
entered into a definitive merger agreement. Upon completion of the
transaction, the combined company expects to be listed on the New
York Stock Exchange (NYSE) under the ticker symbol “KORE.” The
transaction, which has been approved by the KORE Board of Directors
and CTAC Board of Directors, is expected to close in mid-2021. The
transaction remains subject to approval by both KORE and CTAC
shareholders, the satisfaction or waiver of customary closing
conditions (including receipt of required regulatory approvals),
and the delivery of certain PCAOB audited financial statements by
KORE.
About KORE
KORE is a pioneer, leader, and trusted advisor delivering
mission-critical IoT solutions and services. We empower
organizations of all sizes to improve operational and business
results by simplifying the complexity of IoT. Our deep IoT
knowledge and experience, global reach, purpose-built solutions,
and deployment agility accelerate and materially impact our
customers’ business outcomes. For more information, visit
www.korewireless.com.
About CTAC
Cerberus Telecom Acquisition Corp. (“CTAC”) is a blank check
company formed by an affiliate of Cerberus Capital Management, L.P.
(“Cerberus”), a global leader in alternative investing. CTAC is led
by CEO Tim Donahue, former Executive Chairman of Sprint Nextel and
former CEO of Nextel Communications, and is proud to have the
support of a distinguished advisory board comprised of senior
executives and business leaders from the information and
communications technology sector. For more information, visit
www.cerberusacquisition.com.
About Cerberus
Founded in 1992, Cerberus is a global leader in alternative
investing with approximately $50 billion in assets across
complementary credit, private equity, and real estate strategies.
We invest across the capital structure where our integrated
investment platforms and proprietary operating capabilities create
an edge to improve performance and drive long-term value. Our
tenured teams have experience working collaboratively across asset
classes, sectors, and geographies to seek strong risk-adjusted
returns for our investors. For more information about our people
and platforms, visit us at www.cerberus.com.
Cerberus has a dedicated focus on next-generation technologies
and telecommunication solutions. Our team of technologists and
network of advisors collaborate across our investment and operating
platforms to identify opportunities and manage investments in
critical IoT, edge computing, artificial intelligence, private
wireless networks, network equipment, autonomy, aerospace, and
ecosystem development.
Important Information and Where to Find It
This press release references proposed merger transaction
announced previously involving CTAC and KORE. CTAC and King Pubco,
Inc. (“Pubco”) intend to file a registration statement on Form S-4
with the SEC, which will include a proxy statement of CTAC and a
prospectus of Pubco, and CTAC will file other documents regarding
the proposed transaction with the SEC. A definitive proxy
statement/prospectus will also be sent to the stockholders of CTAC,
seeking required stockholder approval. Before making any voting or
investment decision, investors and security holders of CTAC are
urged to carefully read the entire registration statement and proxy
statement/prospectus, when they become available, and any other
relevant documents filed with the SEC, as well as any amendments or
supplements to these documents, because they will contain important
information about the proposed transaction. The documents filed by
CTAC with the SEC may be obtained free of charge at the SEC's
website at www.sec.gov. In addition, the documents filed by CTAC
with the SEC may be obtained free of charge from CTAC’s website at
www.cerberusacquisition.com or upon written request to Cerberus
Telecom Acquisition Corp., 875 Third Avenue, New York, NY
10022.
This press release, similar to the previous announcement, does
not constitute an offer to sell or the solicitation of an offer to
buy any securities or a solicitation of any vote or approval, nor
shall there be any sale of any securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of such other jurisdiction.
CTAC, KORE and certain of their respective directors and
executive officers may be deemed to be participants in the
solicitation of proxies from the stockholders of CTAC, in favor of
the approval of the merger. Information regarding CTAC’s and KORE’s
directors and executive officers and other persons who may be
deemed participants in the transaction may be obtained by reading
the registration statement and the proxy statement/prospectus and
other relevant documents filed with the SEC when they become
available. Free copies of these documents may be obtained as
described above.
Forward-Looking Statements
This press release includes certain statements that are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally are accompanied by words such as “believe,”
“may,” “will,” “estimate,” “continue,” “anticipate,” “intend,”
“expect,” “should,” “would,” “plan,” “predict,” “potential,”
“seem,” “seek,” “future,” “outlook,” and similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
include, but are not limited to, statements regarding estimates and
forecasts of revenue and other financial and performance metrics
and projections of market opportunity and expectations. These
statements are based on various assumptions and on the current
expectations of CTAC or KORE’s management. These forward-looking
statements are provided for illustrative purposes only and are not
intended to serve as, and must not be relied on by any investor or
other person as, a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances are
beyond the control of CTAC and/or KORE. These forward-looking
statements are subject to a number of risks and uncertainties,
including general economic, financial, legal, political and
business conditions and changes in domestic and foreign markets;
the potential effects of COVID-19; risks related to the rollout of
the KORE’s business and the timing of expected business milestones;
changes in the assumptions underlying the KORE’s expectations
regarding its future business; the effects of competition on the
KORE’s future business; and the outcome of judicial proceedings to
which the KORE is, or may become a party. If the risks materialize
or assumptions prove incorrect, actual results could differ
materially from the results implied by these forward-looking
statements. There may be additional risks that the KORE presently
does not know or that the KORE currently believes are immaterial
that could also cause actual results to differ materially from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect the KORE’s expectations, plans
or forecasts of future events and views as of the date of this
press release. The KORE and CTAC anticipate that subsequent events
and developments will cause these assessments to change. However,
while the KORE and/or CTAC may elect to update these
forward-looking statements at some point in the future, each of the
KORE and CTAC specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the KORE’s assessments as of any date subsequent to
the date of this press release. Accordingly, undue reliance should
not be placed upon the forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210405005284/en/
KORE
Media Jean Creech Avent jcreechavent@korewireless.com
843-986-8229
Investors Matt Glover and Cody Slach Gateway Group, Inc.
KORE@gatewayir.com 949-574-3860
Cerberus Telecom Acquisition Corp.
Media Andrew Cole/Dave Millar/Brooke Jaye Sard Verbinnen
& Co. CTAC-SVC@sardverb.com
OR
media@cerberusacquisition.com
Investors info@cerberusacquisition.com
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