Boxed and Seven Oaks (SVOKU) Announces up to $100M Forward-Purchase Agreement in Connection with Proposed Merger

November 29, 2021 8:35 AM EST

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Boxed, an e-commerce grocery platform which sells bulk consumables and licenses its e-commerce software to enterprise retailers, and Seven Oaks Acquisition Corp. (“Seven Oaks” or “SVOK”) (Nasdaq: SVOK, SVOKU, SVOKW), a publicly-traded special purpose acquisition company, today provided updates related to their proposed business combination.

Seven Oaks has entered into a forward purchase agreement for up to $100 million with an affiliate of Atalaya Capital Management LP (“Atalaya”), a privately held, SEC-registered alternative investment advisory firm that focuses primarily on private credit and special opportunities investments. Please refer to Seven Oaks’ current report on Form 8-K, filed today with the SEC, for additional information.

On June 13, 2021, Boxed and Seven Oaks entered into a definitive agreement relating to the business combination that would result in Boxed becoming a public company upon the closing of the transaction. Boxed also announced its intention to list on the New York Stock Exchange (“NYSE”) upon the closing of the business combination, which is expected in the fourth quarter of 2021. The combined company will be called Boxed, Inc. and its common stock and warrants are expected to list on the NYSE under the new ticker symbols “BOXD” and “BOXD WS,” respectively.

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