The new Oxygen Elements debit card offers four
unique levels of rewards for consumers
CompoSecure Holdings, L.L.C. (“CompoSecure”), a leading provider
of premium financial payment cards and an emergent cryptocurrency
storage and security solution provider, today announced that it has
partnered with Oxygen, a leading US neobank catering to the 21st
century economy, to offer cards for Oxygen Elements, a four-tier
debit card rewards program.
The Oxygen Elements rewards program comes at a pivotal turning
point for the economy. According to Deloitte Insights’ United
States Consumer Spending Forecast, a robust labor market and $1.6
trillion in increased savings have put more money in the pockets of
US consumers, and spending is expected to rise 8.1% in 2021 and 3%
in 2022, despite a rise in anxiety surrounding the spread of
COVID-19 variants. Deloitte’s report states: “The reopening of the
consumer service sector is likely to result in a burst of pent-up
spending as people return to restaurants, theaters, sports events
and travel.”
“Programs like Oxygen Elements empower users to earn rewards,
manage their purchases and increase savings,” said Jon Wilk, CEO of
CompoSecure, which recently announced it had signed a merger
agreement with Roman DBDR Tech Acquisition Corp. (NASDAQ: DBDR), a
special purpose acquisition company. “Our premium metal cards and
excellence in manufacturing will enable Oxygen to get to market
quickly and give consumers a taste of luxury each time they pull
out their debit card, which builds brand loyalty and customer
retention.”
The four Oxygen Elements rewards tiers – Earth, Water, Air and
Fire - offer Oxygen cardholders a choice from an escalating menu of
annual perks like increasing levels of cashback, escalating set of
annual percentage yields (APYs), subscription savings from brands
like Netflix and Peloton, retail and travel benefits in addition to
premium metal cards for the top two tiers. The entry level tier,
Earth, features no fees or qualifying criteria. Premium tiers
(Water, Air and Fire) require meeting spend and deposit thresholds
in addition to an annual fee, waived in subsequent years if spend
and deposits thresholds are maintained. The savings feature offers
APYs up to 17x1 the current national average, empowering
cardholders to reach their individual and holistic financial goals
by allowing them to create separate goals and set rules to automate
percentage transfers to their savings account or designated
individual goal.
“Elements sets the standard for the rewarding experience
consumers will have now as travel, restaurants and shopping
reopen,” said Hussein Ahmed, CEO of Oxygen. “CompoSecure’s premium
metal cards differentiate our products and services, so they stand
out in the consumer’s wallet.”
The Elements program gives Oxygen debit cardholders leading
cashback rates of up to 6%2 at approved merchants and retail and
travel perks like PriorityPass™ Global Lounge access and Global
Entry/TSA precheck reimbursement, both available on premium tiers.
The peer-to-peer “Friends” money feature enables both one-to-one as
well as group payments, making it easier to split bills with
friends by a fixed dollar amount or percentage. To learn more about
the Oxygen Elements loyalty program, visit
www.oxygen.us/elements.
The cards will use CompoSecure’s metal dual-interface
construction that enables tap-to-pay purchases. CompoSecure was
selected for this new card program because of its manufacturing
capabilities and capacity, which expedites the time to market. For
more information on metal payment card design and manufacturing,
visit www.composecure.com.
On November 30, 2021, CompoSecure and Roman DBDR announced a
special meeting of Roman DBDR stockholders to consider matters
related to the proposed business combination with CompoSecure. The
meeting will be held on December 23, 2021 at 10:00 a.m., Eastern
Time, in a virtual format. Roman DBDR stockholders may attend and
vote at the Special Meeting by visiting
https://www.cstproxy.com/romandbdr/sm2021 and entering the control
number found on their proxy card, voting instruction form or notice
included in their proxy materials.
More information about voting and attending the Special Meeting
is included in the definitive proxy statement filed by Roman DBDR
with the Securities and Exchange Commission (the “SEC”) on November
30, 2021, which is available without charge on the SEC’s website at
http://www.sec.gov or
https://www.romandbdr.com/investor-relations.
About Oxygen
Oxygen is a modern financial platform designed for the 21st
century economy - providing digital natives, creators and
entrepreneurs pushing everyday boundaries a banking partner that
understands how they live and work by offering a seamless user
experience for both personal and business accounts in a single
application. Available on iOS and Android, Oxygen users enjoy early
direct deposit, simple transfers, cashback rewards and robust
savings options in addition to everyday retail and travel benefits.
Businesses can start and scale their operations with simple,
integrated solutions like nationwide LLC incorporation and custom
invoicing. Reject ordinary. Banking for the Extraordinary.
Oxygen is a financial technology company, not a bank. Banking
services provided by The Bancorp Bank, Member FDIC. The Oxygen
Visa® Debit Card is issued by The Bancorp Bank pursuant to a
license from Visa U.S.A. Inc. and may be used everywhere Visa debit
cards are accepted.
About CompoSecure
Founded in 2000, CompoSecure is a pioneer and category leader in
premium payment cards and an emergent provider of cryptocurrency
and digital asset storage and security solutions. The company
focuses on serving the affluent customers of payment card issuers
worldwide using proprietary production methods that meet the
highest standards of quality and security. The company offers
secure, innovative, and durable proprietary products that implement
leading-edge engineering capabilities and security. CompoSecure’s
mission is to increase clients’ brand equity in the marketplace by
offering products and solutions which differentiate the brands they
represent, thus elevating cardholder experience. For more
information, please visit www.composecure.com. Arculus™ was created with the
mission to promote cryptocurrency adoption by making it safe,
simple and secure for the average person to buy, sell and store
cryptocurrency. With a strong background in security hardware and
financial payments, the Arculus™ solution was developed to allow
people to use a familiar payment card form factor to manage their
cryptocurrency. For more information, please visit
www.arculus.co.
About Roman DBDR Tech Acquisition Corp.
Roman DBDR is a special purpose acquisition company whose
business purpose is to effect a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization, or similar
business combination with one or more businesses or entities. While
the company may pursue an initial business combination target in
any stage of its corporate evolution or in any industry or sector,
it intends to focus its search on companies in the technology,
media and telecom (“TMT”) industries. The company is led by its
Co-Chief Executive Officers, Dr. Donald G. Basile and Dixon Doll,
Jr. The Company’s experienced board of directors includes former
NVCA Chairman and longtime venture capitalist Dixon Doll, Global
Net Lease (NYSE: GNL) CEO James L. Nelson, former fund manager Paul
Misir, investment banker and investor Arun Abraham, and
entrepreneur Alan Clingman. For more information, please visit
www.romandbdr.com Roman DBDR raised $236 million in its initial
public offering (inclusive of underwriter’s exercise of
over-allotment option) in November 2020 and is listed on Nasdaq
under the symbol “DBDR.”
Forward-Looking Statements
Certain statements included in this Press Release that are not
historical facts are forward-looking statements for purposes of the
safe harbor provisions under the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements include,
but are not limited to statements regarding Roman DBDR’s or
CompoSecure’s expectations, hopes, beliefs, intentions or
strategies regarding the future, including, without limitation,
statements regarding: (i) the ability of Roman DBDR and CompoSecure
to complete the proposed merger described in the Press Release,
(ii) the size, demand and growth potential of the markets for
CompoSecure’s products and CompoSecure’s ability to serve those
markets, (iii) the degree of market acceptance and adoption of
CompoSecure’s products, (iv) CompoSecure’s ability to develop
innovative products and compete with other companies engaged in the
financial services and technology industry, and (v) CompoSecure’s
ability to attract and retain clients. In addition, any statements
that refer to projections, forecasts, or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking statements. Forward-looking
statements generally are accompanied by words such as “believe,”
“may,” “will,” “estimate,” “continue,” “anticipate,” “intend,”
“expect,” “should,” “would,” “plan,” “predict,” “potential,”
“seem,” “seek,” “future,” “outlook,” and similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
include, but are not limited to, statements regarding estimates and
forecasts of other financial and performance metrics and
projections of market opportunity. These statements are based on
various assumptions, whether or not identified in this Press
Release, and on the current expectations of CompoSecure’s and Roman
DBDR’s management and are not predictions of actual performance.
These forward-looking statements are provided for illustrative
purposes only and are not intended to serve as, and must not be
relied on by any investor as, a guarantee, a prediction or a
definitive statement of fact or probability. Neither Roman DBDR nor
CompoSecure gives any assurance that either Roman DBDR or
CompoSecure will achieve its expectations. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances are
beyond the control of CompoSecure and Roman DBDR. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond Roman DBDR’s and CompoSecure’s control)
or other assumptions that may cause actual results or performance
to be materially different from those expressed or implied by these
forward-looking statements. These factors include, among others:
the inability to complete the proposed merger; the inability to
recognize the anticipated benefits of the proposed merger,
including due to the failure to receive required security holder
approvals, or the failure of other closing conditions; and costs
related to the proposed merger. You should carefully consider the
risks and uncertainties described in the “Risk Factors” section of
the definitive proxy statement on Schedule 14A (the “Proxy
Statement”) relating to the proposed merger filed by Roman DBDR
with the U.S. Securities and Exchange Commission (the “SEC”) and
other documents filed by Roman DBDR from time to time with the SEC.
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.
If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that none of Roman DBDR or CompoSecure presently
know or that Roman DBDR or CompoSecure currently believe are
immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect Roman DBDR’s and CompoSecure’s
expectations, plans or forecasts of future events and views as of
the date of this Press Release. Roman DBDR and CompoSecure
anticipate that subsequent events and developments will cause Roman
DBDR’s and CompoSecure’s assessments to change. However, while
Roman DBDR and CompoSecure may elect to update these
forward-looking statements at some point in the future, Roman DBDR
and CompoSecure specifically disclaim any obligation to do so.
These forward-looking statements should not be relied upon as
representing Roman DBDR’s and CompoSecure’s assessments as of any
date subsequent to the date of this Press Release. Accordingly,
undue reliance should not be placed upon the forward-looking
statements. Certain market data information in this Press Release
is based on the estimates of CompoSecure and Roman DBDR
management.
Additional Information about the Proposed Merger and Where to
Find It
In connection with the proposed merger, Roman DBDR has filed a
definitive proxy statement with the SEC. The documents relating to
the proposed merger can be obtained free of charge from the SEC’s
website at www.sec.gov. These documents can also be obtained free
of charge by contacting CompoSecure at: Marc P. Griffin, ICR for
CompoSecure, 646-277-1290, CompoSecure-IR@icrinc.com.
Participants in the Solicitation
This communication is not a solicitation of a proxy from any
security holder of Roman DBDR. CompoSecure, Roman DBDR and our
respective directors, executive officers, other members of
management and employees may be deemed to be participants in the
solicitation of proxies from Roman DBDR’s stockholders in
connection with the proposed merger. Information regarding the
names and interests in the proposed merger of Roman DBDR’s
directors and officers is contained Roman DBDR’s filings with the
SEC. Additional information regarding the interests of potential
participants in the solicitation process has also been included in
the definitive proxy statement relating to the proposed merger and
other relevant documents filed with the SEC. These documents can be
obtained free of charge from the sources indicated above.
1Based on the average Savings APY at Bankrate.com.
Savings APY varies by Element. Variable annual fee, deposit and
spend requirements may apply. No interest paid on balances over
$20,000. Please refer to the oxygen.us/apy for full details.
26% Cashback applies to Fire Element. Cashback percentage
varies by Element. Variable activation fee, deposit and spend
requirements may apply. Please see Cashback Terms & Conditions
for details.
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