0001213900-21-047639.txt : 20210913 0001213900-21-047639.hdr.sgml : 20210913 20210913140629 ACCESSION NUMBER: 0001213900-21-047639 CONFORMED SUBMISSION TYPE: 425 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20210913 DATE AS OF CHANGE: 20210913 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Omnichannel Acquisition Corp. CENTRAL INDEX KEY: 0001827669 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 853113789 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 425 SEC ACT: 1934 Act SEC FILE NUMBER: 001-39726 FILM NUMBER: 211249352 BUSINESS ADDRESS: STREET 1: FIRST FLOOR WEST STREET 2: 51 JOHN F KENNEDY PKWY CITY: MILLBURN STATE: NJ ZIP: 07078 BUSINESS PHONE: (908) 271-6641 MAIL ADDRESS: STREET 1: FIRST FLOOR WEST STREET 2: 51 JOHN F KENNEDY PKWY CITY: MILLBURN STATE: NJ ZIP: 07078 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Omnichannel Acquisition Corp. CENTRAL INDEX KEY: 0001827669 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 853113789 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 425 BUSINESS ADDRESS: STREET 1: FIRST FLOOR WEST STREET 2: 51 JOHN F KENNEDY PKWY CITY: MILLBURN STATE: NJ ZIP: 07078 BUSINESS PHONE: (908) 271-6641 MAIL ADDRESS: STREET 1: FIRST FLOOR WEST STREET 2: 51 JOHN F KENNEDY PKWY CITY: MILLBURN STATE: NJ ZIP: 07078 425 1 ea147261-425_omnichannel.htm FORM 425

Filed by Omnichannel Acquisition Corp.

Pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: Omnichannel Acquisition Corp.

Commission File No.: 001-39726

Date: September 13, 2021

 

E-mail by Matt Higgins

 

[Name],

 

Thank you for your continuing interest in Kin and Omni. As we work through the transaction process targeting a close in Q4 2021, I’m reaching out to highlight several important Kin milestones including the recent announcement of preliminary Q2 results, the S-4 submission, and the rollout of Kin’s first brand campaign. 

 

The company recently announced preliminary Q2 operating results (link), which highlight Kin’s increasing pace of growth while maintaining peer-leading unit economics. Several highlights include:

 

Total written premium increased to $24.7MM for the second quarter of 2021, nearly four times the $6.4MM of total written premium in the prior year period. Growth was entirely organic and directly written without the use of independent agents.

 

Premium renewal rate on the carrier remained strong at 92% in the second quarter of 2021.

 

Adjusted Loss Ratio on the carrier for the first half of 2021 was 67%, a 29 point improvement compared to 96% in the prior year period.

 

We have also filed the S-4, which can be found here. If you go on EDGAR you can also see a number of 425 filings that reflect our collective efforts to build awareness for the transaction including interviews on Reddit (link) and Benzinga (link). We will continue to pursue these media opportunities, the latest of which was an IPO Edge article that was published in late August.     

 

As I mentioned during the investor meetings, one of the benefits of this unique combination of Kin and OCA is the breadth and depth of the collective consumer operating experience we bring to the transaction. As discussed in the S-4, one of our top priorities is to build upon Kin’s impressive performance marketing machine with an added layer of top of the funnel brand awareness - especially in the Florida market, itself a >$10 billion TAM. Starting shortly after the LOI was signed, one of OCA’s advisors, Gary Vaynerchuk, and his team at VaynerMedia, worked tirelessly to produce a new marketing film for Kin called “Florida, Man.”  I won’t spoil it but for those unfamiliar with meme culture, the point of the sticky “ad” is to co-opt a negative association with the Florida market and repurpose it to convey Kin’s loyalty to the state. It has generated millions of impressions so far and been picked up by AdAge.  Please let me know what you think - I hope you enjoy it as much as I do. 

 

I will continue to keep you updated on the transaction milestones as we progress through the second half of the year. My conviction in the Kin management team, and our shared vision of the market opportunity in homeowners insurance, led me to personally invest in the PIPE. That conviction is shared by the many institutional and strategic investors that also participated in the PIPE process (see press release here for more information). I believe the Q2 release is indicative of the management team's ability to execute against our plan, and I look forward to sharing more updates with you.

 

As always, feel free to reach out if you would like to schedule time to meet with me or the Kin team.

 

Thanks. 

 

Matt

 

 

 

  

Important Information for Investors and Stockholders

 

This communication relates to a proposed business combination (the “Business Combination”) between Omnichannel Acquisition Corp. (“Omnichannel”) and Kin Insurance, Inc. (“Kin”). In connection with the proposed Business Combination, Omnichannel has filed with the SEC a registration statement on Form S-4 that includes a preliminary proxy statement of Omnichannel in connection with Omnichannel’s solicitation of proxies for the vote by Omnichannel’s stockholders with respect to the proposed Business Combination and a preliminary prospectus of Omnichannel. The final proxy statement/prospectus will be sent to all Omnichannel stockholders, and Omnichannel will also file other documents regarding the proposed Business Combination with the SEC. This communication does not contain all the information that should be considered concerning the proposed Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination.  Before making any voting or investment decision, investors and security holders are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed Business Combination as they become available because they will contain important information about the proposed transaction.

 

Investors and security holders will be able to obtain free copies of the registration statement, proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Omnichannel through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by Omnichannel may be obtained free of charge by written request to: Christine Pantoya, Chief Financial Officer, Omnichannel Acquisition Corp., 485 Springfield Avenue #8, Summit, New Jersey 07901.

 

Forward-Looking Statements

 

This communication includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of the business of Kin or the combined company after completion of the Business Combination are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements. These factors include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement and the proposed Business Combination contemplated thereby; (2) the inability to complete the transactions contemplated by the transaction agreement due to the failure to obtain approval of the stockholders of Omnichannel or other conditions to closing in the transaction agreement; (3) the ability to meet the NYSE’s listing standards following the consummation of the transactions contemplated by the transaction agreement; (4) the risk that the proposed transaction disrupts current plans and operations of Kin as a result of the announcement and consummation of the transactions described herein; (5) the ability to recognize the anticipated benefits of the proposed Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) costs related to the proposed Business Combination; (7) changes in applicable laws or regulations; and (8) the possibility that Kin may be adversely affected by other economic, business, and/or competitive factors. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Omnichannel’s Annual Report on Form 10-K, and other documents filed by Omnichannel from time to time with the SEC and the registration statement on Form S-4 and proxy statement/prospectus discussed above. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Omnichannel and Kin assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

 

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Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved.

 

Any financial and capitalization information or projections in this communication are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Omnichannel’s and Kin’s control. While such information and projections are necessarily speculative, Omnichannel and Kin believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of financial information or projections in this communication should not be regarded as an indication that Omnichannel or Kin, or their respective representatives and advisors, considered or consider the information or projections to be a reliable prediction of future events.

 

Participants in the Solicitation

 

Omnichannel, Kin and their respective directors and executive officers may be deemed participants in the solicitation of proxies of Omnichannel stockholders with respect to the proposed Business Combination. Omnichannel stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of Omnichannel Acquisition Corp. and their ownership of Omnichannel’s securities in Omnichannel’s final prospectus relating to its initial public offering, which was filed with the SEC on November 23, 2020 and is available free of charge at the SEC’s website at www.sec.gov, or by written request to: Christine Pantoya, Chief Financial Officer, Omnichannel Acquisition Corp., 485 Springfield Avenue #8, Summit, New Jersey 07901.

 

Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed transaction will be included in the proxy statement / prospectus that Omnichannel intends to file with the SEC.

 

No Offer or Solicitation

 

This communication does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act, or an exemption therefrom.

 

Contacts

 

Kin

 

 Investor Relations

 investors@kin.com

 Media Relations

 press@kin.com

 

Omnichannel

 

Investor Relations

 oacir@icrinc.com

 Media Relations

 oacpr@icrinc.com

 

 

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