Unique Logistics in SPAC deal with Edify Acquisition Corp

PRESS RELEASE

Unique Logistics International, Inc. Announces Merger Agreement with Edify Acquisition Corp.

Dec 19, 2022, 06:00 ET

– Merger agreement provides for debt capital to facilitate previously announced acquisitions and additional working capital

– The merger would result in Unique Logistics International becoming a Nasdaq-listed company

NEW YORK, Dec. 19, 2022 /PRNewswire/ — Unique Logistics International, Inc. (OTCMKTS: UNQL) (“Unique” or the “Company”), a global logistics and freight forwarding company, today announced that it has signed a definitive agreement and plan of merger (the “Merger Agreement”) with Edify Acquisition Corp. (“Edify”) (Nasdaq: EAC), a special purpose acquisition company, for a proposed business combination of the two companies. Under the Merger Agreement, subject to satisfaction of the closing conditions contained therein, Unique will merge with a subsidiary of Edify, and thereby become a wholly-owned subsidiary of Edify. Upon completion of the merger, class A common stock of the combined company will be listed on the Nasdaq Capital Market.

In conjunction with entering into the Merger Agreement, the Company entered into a commitment letter relating to the provision to the Company of a senior secured financing facility in the maximum aggregate principal amount of $35,000,000, which the Company intends to use to fund its previously announced pending acquisitions of eight subsidiaries and affiliates of Unique Logistics Holdings Limited, a Hong Kong corporation, pursuant to previously executed stock purchase agreements…

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