UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 8.01. Other Events.
Results of the Completed Warrant Redemption
On May 19, 2022, Bowlero Corp. (“Bowlero”) issued a press release announcing results of the completed redemption of all of its outstanding publicly traded and privately held warrants to purchase shares of its Class A common stock, par value $0.0001 per share (the “Common Stock”) that were issued under the Warrant Agreement, dated as of March 2, 2021, between Bowlero (f/k/a Isos Acquisition Corporation) and Continental Stock Transfer & Trust Company.
Update on the Company’s Repurchase Program
Bowlero also announced that, as of May 11, 2022, it has repurchased 465,667 shares of Common Stock for at an average cost of $9.25 or $4,305,750 since the end of its third fiscal quarter ended March 27, 2022 under its previously authorized program for the repurchase of up to an aggregate amount of $200 million of its shares of Common Stock and warrants, which was announced on February 7, 2022.
Repurchases of Common Stock and the timing thereof will depend upon market conditions, corporate liquidity requirements and priorities, debt agreement limitations and other factors as may be considered in Bowlero’s sole discretion. The share repurchase program does not obligate Bowlero to repurchase any particular amount of Common Stock and may be suspended or discontinued at any time without notice. Repurchases may be made in the open market, by block purchase, or in privately negotiated transactions or otherwise. Repurchases may also be made pursuant to a trading plan under Rule 10b5-1 under the Exchange Act, which would permit shares to be repurchased when Bowlero might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions.
A copy of the press release announcing the completion of the redemption and the repurchases is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | ||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Bowlero Corp. | ||||
| Date: | May 19, 2022 |
By: | /s/ Brett I. Parker | |
| Name: Brett I. Parker | ||||
| Title: President and Chief Financial Officer | ||||
[Signature Page to Form 8-K]