Experienced and Skilled Board to take Effect as Enjoy
Converts to a Public Company, Following Completion of Business
Combination with Marquee Raine Acquisition Corp.
PALO ALTO, Calif., July 26, 2021 /CNW/ -- Enjoy
Technology, Inc. ("Enjoy" or the "Company"), a technology-powered
service platform reinventing "Commerce at Home," and Marquee Raine
Acquisition Corp. ("Marquee Raine" or "MRAC") (NASDAQ: MRAC) today
announced Denise Young Smith and
Salaam Coleman Smith as nominees for its post-closing Board of
Directors. These nominations add two additional seasoned executives
to Enjoy's Board, that consists of experienced leaders across the
retail, technology, entertainment and financial sectors. Enjoy's
Board will take effect as the Company becomes a public company
following the completion of its business combination with Marquee
Raine, expected in the third quarter of 2021.
Ms. Young Smith recently closed a
two-decade career with Apple, where she served as its chief human
resources executive. She previously was the company's first-ever
senior executive overseeing inclusion and diversity. Ms.
Coleman Smith's extensive media
career includes leadership positions with The Walt Disney Company,
Comcast Corporation's NBCUniversal and Viacom.
Upon the closing of the business combination with Marquee Raine,
Enjoy's Board of Directors will include:
Ron Johnson
(Chairman)
Founder and
CEO
Enjoy
Technology
|
Tom
Ricketts
Co-Chairman,
Marquee Raine
Co-Founder and
CEO, Incapital
|
Salaam Coleman
Smith
Former Executive
Vice President, ABC Family
The Walt Disney
Company
|
Brett
Varsov
Co-Chief Executive
Officer, Marquee Raine
Partner and Head
of M&A, The Raine Group
|
Fred
Harman
Managing
Partner
Oak Investment
Partners
Jonathan
Mariner
Chief
Administrative and People Officer
Enjoy
Technology
|
Denise Young
Smith
Former Vice
President of Worldwide Talent and Human Resources,
Apple
Gideon Yu
Co-Owner
San Francisco
49ers
|
"I am thrilled to welcome Denise and Salaam, two incredibly
talented executives, as nominees for Enjoy's Board of Directors,"
said Mr. Johnson. "Enjoy's Board will have the right expertise and
broad skill set to help management accelerate our growth in our
next phase as a public company. I am eager to partner with these
distinguished individuals as we create the next disruptive channel
in retail, deliver our beloved personalized experiences to more
customers around the world and continue reinventing 'Commerce at
Home.'"
Denise Young Smith
Ms.
Denise Young Smith recently closed a
two-decade career with Apple Inc. She has served residencies and
advised in academia at Cornell Tech (Cornell Ithaca's graduate
school tech campus in Manhattan),
at Colorado College and at various
Historically Black Colleges and Universities. At Apple,
Ms. Young Smith led the talent and cultural experience for
much of the company's retail store initiative, expanding to more
than 400 stores globally before being promoted to the Chief HR
role, reporting to Apple's CEO, Tim
Cook. She also served as Apple's first ever Vice President
of Inclusion and Diversity, leading the company's efforts to see
its full ecosystem become as inclusive as possible. Ms.
Young Smith earned her B.A. in
Communications and Journalism from Grambling
State University.
Salaam Coleman
Smith
Ms. Salaam Coleman
Smith is a media industry leader with extensive business,
creative and operating expertise forged through her 20+ year career
at three Fortune 500 Media companies building some of the most
powerful brands in entertainment, including The Walt Disney
Company, Comcast NBCUniversal and Viacom. She serves on the Boards
of Directors of Pinterest and Gap Inc. At The Walt Disney Company,
Ms. Coleman Smith served as
Executive Vice President at the Disney ABC Television Group
overseeing Strategy and Programming for ABC Family and Freeform.
Previously, she had a distinguished 10+ year tenure at Comcast
NBCUniversal where she served as President of Style Media and
steered the successful scaling of a fast-growing, multi-platform
television network and fashion and lifestyle brand. Prior to
joining Comcast NBCUniversal, Ms. Coleman
Smith worked at Viacom where she served as a senior
executive within MTV Networks International and directed
programming strategy for Nickelodeon's global expansion in
Europe, Asia and Latin
America. Ms. Coleman Smith
earned her B.S. in Industrial Engineering from Stanford University.
About Enjoy Technology
Enjoy Technology is a
technology-powered platform reinventing "Commerce at Home" to bring
the best of the store directly to the customer. Enjoy has formed
multi-year commercial relationships with some of the leading
consumer brands to bring the products, services and subscriptions
their customers love through the door directly in the comfort and
convenience of their homes. Co-founded by Apple retail strategist,
Ron Johnson, Enjoy has pioneered a
new retail experience that we believe can do everything a
traditional retail experience offers, but better, through its
Mobile Stores. Enjoy currently operates in the United States, Canada and the United Kingdom. Headquartered in Palo Alto, CA, Enjoy is leading the
reinvention of "Commerce at Home." To learn more about Enjoy,
please visit: www.enjoy.com.
About MRAC
Marquee Raine Acquisition Corp. is a newly
incorporated blank check company whose business purpose is to
effect a merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more
businesses or entities. Marquee Raine is sponsored by an affiliate
of The Raine Group, a leading growth TMT-focused advisory and
investment platform, and affiliates of Marquee Sports Holdings, a
successful sports, media, entertainment and hospitality company led
by the Ricketts family. The management team and sponsors of Marquee
Raine have successfully taken actions as advisors, investors, and
operators of companies ranging from early-stage venture businesses
to large corporate conglomerates in order to create shareholder
value.
Additional Information and Where to Find It
This
press release relates to a proposed transaction between Enjoy and
MRAC. This press release does not constitute an offer to sell or
exchange, or the solicitation of an offer to buy or exchange, any
securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, sale or exchange would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. MRAC has filed a
registration statement on Form S-4 with the SEC, which
includes a document that serves as a prospectus and proxy statement
of MRAC, referred to as a proxy statement/prospectus. A proxy
statement/prospectus will be sent to all MRAC shareholders. The
proxy statement/prospectus will contain important information about
the proposed transaction and the other matters to be voted upon at
an extraordinary general meeting of shareholders. MRAC also will
file other documents regarding the proposed transaction with the
SEC. Before making any voting decision, investors and security
holders of MRAC are urged to read the registration statement, the
proxy statement/prospectus and all other relevant documents filed
or that will be filed with the SEC in connection with the proposed
transaction as they become available because they will contain
important information about the proposed transaction.
Investors and security holders will be able to obtain free
copies of the registration statement, the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC by MRAC through the website maintained
by the SEC at www.sec.gov.
The documents filed by MRAC with the SEC also may be obtained
free of charge upon written request to Marquee Raine Acquisition
Corp., 65 East 55th Street, 24th Floor, New York, New York 10022.
Participants in Solicitation
MRAC and its directors
and executive officers may, under SEC rules, be deemed participants
in the solicitation of proxies from MRAC's shareholders in
connection with the proposed transaction. A list of the names of
such directors and executive officers and information regarding
their interests in the business combination is contained in the
proxy statement/prospectus filed with the SEC. You may obtain free
copies of these documents as described in the preceding
paragraph.
Forward-Looking Statements
This press release contains
certain forward-looking statements within the meaning of the "safe
harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995 with respect to the proposed
transaction between Enjoy and MRAC. These forward-looking
statements generally are identified by the words "believe,"
"strategy," "opportunity," "plan," "propose,"
"forecast," "may," "should," "will," "would," "will be," "will
continue," "will likely result," or other similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations of the Company's and MRAC'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, an assurance, a prediction or a
definitive statement of fact or probability. 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 the Company and MRAC. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to: (i) the risk that the transaction may not be
completed in a timely manner or at all, which may adversely affect
the price of MRAC's securities, (ii) the risk that the
transaction may not be completed by MRAC's business combination
deadline and the potential failure to obtain an extension of the
business combination deadline if sought by MRAC, (iii) the
failure to satisfy the conditions to the consummation of the
transaction, including the adoption of the Agreement and Plan of
Merger (the "Merger Agreement") by the shareholders of MRAC, the
satisfaction of the minimum amount following redemptions by MRAC's
public shareholders and the receipt of certain governmental and
regulatory approvals in MRAC's trust account, (iv) the lack of
a third party valuation in determining whether or not to pursue the
proposed transaction, (v) the inability to complete the PIPE
Investment, (vi) the occurrence of any event, change or other
circumstance that could give rise to the termination of the Merger
Agreement, (vii) the effect of the announcement or pendency of
the transaction on Enjoy's business relationships, operating
results, and business generally, (viii) risks that the
proposed transaction disrupts current plans and operations of
Enjoy, (ix) the outcome of any legal proceedings that may be
instituted against Enjoy or against MRAC related to the Merger
Agreement or the proposed business combination, (x) the
ability to maintain the listing of MRAC's securities on a national
securities exchange, (xi) changes in the competitive and
regulated industries in which Enjoy operates, variations in
operating performance across competitors, changes in laws and
regulations affecting Enjoy's business and changes in the combined
capital structure, (xii) the ability to implement business
plans, forecasts, and other expectations after the completion of
the proposed transaction, and identify and realize additional
opportunities, (xiii) the risk of downturns and a changing
regulatory landscape in the highly competitive
retail e-commerce industry, (xiv) the potential
benefits of the proposed business combination (including with
respect to shareholder value), (xv) the effects of competition on
Enjoy's future business, (xvi) risks related to political and
macroeconomic uncertainty, (xvii) the amount of redemption
requests made by MRAC's public shareholders, (xviii) the
ability of MRAC or the combined company to issue equity or
equity-linked securities in connection with the proposed business
combination or in the future and (xix) the impact of
the COVID-19 pandemic. The foregoing list of factors is
not exhaustive. You should carefully consider the foregoing factors
and the other risks and uncertainties described in MRAC's final
prospectus filed on December 16, 2020 and the Annual Report on
Form 10-K, as amended, for the year ended
December 31, 2020, in each case, under the heading "Risk
Factors," and other documents of MRAC's filed, or to be filed, 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. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Enjoy and MRAC assume no obligation
and do not intend to update or revise these forward-looking
statements, whether as a result of new information, future events,
or otherwise. Neither Enjoy nor MRAC gives any assurance that
either Enjoy or MRAC, or the combined company, will achieve its
expectations.
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