Tims China Completes Business Combination with Silver Crest Acquisition Corporation
NEW YORK and SHANGHAI, Sept. 28, 2022 (GLOBE NEWSWIRE) -- TH International Limited, the exclusive operator of Tim Hortons coffee shops in China ("Tims China" or the "Company") today announced that its business combination (the "Business Combination") with Silver Crest Acquisition Corporation ("Silver Crest"), a special purpose acquisition company, which was approved at an Extraordinary General Meeting of Silver Crest on August 18, 2022, has closed today. The combined company will retain the TH International name and its shares and warrants are expected to begin trading on NASDAQ under the symbols "THCH" and "THCHW," respectively, on or around September 29, 2022. Founded by Cartesian Capital Group and Restaurant Brands International, Tims China opened its first store in Shanghai in 2019, and currently operates over 460 coffee shops across China. Tims China serves freshly brewed beverages and baked goods to millions of guests, including nearly 9 million loyalty club members. The Company has welcomed additional world-class shareholders and partners, including Tencent Holdings and Sequoia China, and launched innovative collaborations with METRO China, a leading retailer, and Easy Joy, China''s largest convenience store chain.
Tims China Completes Business Combination with Silver Crest Acquisition Corporation
NEW YORK and SHANGHAI, Sept. 28, 2022 (GLOBE NEWSWIRE) -- TH International Limited, the exclusive operator of Tim Hortons coffee shops in China ("Tims China" or the "Company") today announced that its business combination (the "Business Combination") with Silver Crest Acquisition Corporation ("Silver Crest"), a special purpose acquisition company, which was approved at an Extraordinary General Meeting of Silver Crest on August 18, 2022, has closed today. The combined company will retain the TH International name and its shares and warrants are expected to begin trading on NASDAQ under the symbols "THCH" and "THCHW," respectively, on or around September 29, 2022. Founded by Cartesian Capital Group and Restaurant Brands International, Tims China opened its first store in Shanghai in 2019, and currently operates over 460 coffee shops across China. Tims China serves freshly brewed beverages and baked goods to millions of guests, including nearly 9 million loyalty club members. The Company has welcomed additional world-class shareholders and partners, including Tencent Holdings and Sequoia China, and launched innovative collaborations with METRO China, a leading retailer, and Easy Joy, China''s largest convenience store chain.