Tims china announces additional financing and investor-friendly changes to merger agreement

Additional financings of up to $194.5 million from institutional investors to fully fund tims china's 5-year business plan adjustments to the merger agreement, including lower entry valuation of $1.4 billion shanghai, march 9, 2022 /prnewswire/ -- th international limited ("tims china" or the "company") and silver crest acquisition corporation ("silver crest") announced today several important developments in support of their previously announced business combination and future growth, including additional financing commitments for tims china and material changes to the agreement and plan of merger (the "merger agreement"). specifically: tims china has received commitments from institutional investors, including affiliates of cartesian capital group, llc, restaurant brands international ("rbi"), and silver crest management llc ("sponsor"), to invest up to $94.5 million in a private investment in public equity ("pipe") to be completed in conjunction with the business combination, with a portion of the pipe complemented by an equity support agreement from shaolin capital management, llc; tims china has executed a letter of intent for a $100 million committed share facility ("csf") with a global financial services firm ("investor").
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