LAS VEGAS, NV / ACCESSWIRE / March 26, 2024 / Scepter Holdings, Inc. (OTC PINK:BRZL), announced today that it has signed a definitive merger agreement with BSG Holdings, LLC. BSG Holdings will receive a split of Scepter stock and seller notes valued at $47 million. Scepter will receive all the membership interests of the Ballengee Group, LLC a sports management agency located in Dallas, Texas. Scepter will gain an agency that generates approximately $4.7 million in EBITDA - which is guaranteed by the the owners of Ballengee Group for the next 3 years. The transaction is conditioned upon a reverse split and an increase in authorized shares and is expected to close as soon as those conditions are met. BSG Holdings will hold a controlling majority of the outstanding stock of Scepter after the transaction.
"The addition of Scepter's social media optimization software, AdaptAI, with our full-service sports agency should be a perfect fit," said James Ballengee, owner of The Ballengee Group. "We are constantly seeking new ways to bring additional revenue opportunities to our athletes and AdaptAI will help our athletes broaden and strengthen their social media sponsorships and can offer our athletes a unique opportunity to enhance their platforms and leverage their personal brands."
"We are excited with the opportunities that will arise by combining a software company that aligns influencers with the highest potential products based on a generative AI platform that analyses each athlete's specific followers and a sports agency with a roster of critical influencers", said Adam Nicosia, CEO of Scepter. "With Ballengee Group as the controlling shareholder, we will be able to bring in an experienced management team within both sports management and social media along with a high-profile board to hopefully enable Scepter to become a leader within its field."
About Ballengee Group
Ballengee Group is a full-service sports agency representing athletes in the MLB, UFC and more. Ballengee Group brings together a preeminent lineup of experienced agents, lawyers, and business executives who have unmatched experience in all areas of an athlete's career. This includes contract negotiation, marketing deals, public relations, and strategic partnerships. With decades of experience representing world champions and global icons, Ballengee Group offers 150+ years of experience in the industry.
About AdaptAI
AdaptAI uses exceptional technology to leverage data and identify influencers to deliver the most profitable results for client brands.
The AdaptAI platform is a Software-as-a-Service (SAAS) based AI system that creates a proprietary 'data fingerprint' for client products data and even the entire company and, then matches them with influencers best positioned to succeed in promotion. AdaptAI also leverages AI to determine which influencers will generate the most attention - in specifically curated audiences.
AdaptAI analyzes proprietary data gathered by influencers for each specific campaign as additional feedback to inform ongoing promotions and to further refine its algorithm and monetize accumulated data.
About Scepter Holdings, Inc.
Scepter Holdings manages the marketing of products, data and companies through its AdaptAI software platform that efficiently matches products with the influencers that will generate the best results. Data from these transactions is accumulated and analyzed to fine tune AdaptAI and to provide even more revenue for its clients. The company has expertise manufacturing, distributing, marketing, and selling online consumer packaged goods, and seeks to leverage its expertise with AdaptAI to create a global platform that will capitalize on data as an asset and efficiently match it with appropriate influencers.
For more information, please visit our website: scepterbrands.com
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Scepter's filings with the Securities and Exchange Commission, which factors may be incorporated herein by reference. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
Investors Contact:
info@scepterbrands.com
SOURCE: Scepter Holdings, Inc.
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