Miniluxe issues 437,500 shares for Dallas studio

Executive Summary

• Miniluxe Holding Corp. completed the acquisition of a new studio location in the Dallas-Fort Worth (DFW) market, specifically in the Lakewood neighborhood, through the formation of a limited liability company (LLC).
• The transaction involved the issuance of 437,500 Class A subordinate voting shares to an arm's-length party at a deemed price of 40 U.S. cents per share, exchanged for 175,000 LLC membership units.
• Miniluxe’s wholly owned subsidiary now holds approximately 66.15% of the LLC membership interests, with the remaining interest held by the partner, Leslie Concors.

Key Details

• Transaction Structure: Completion of a planned share issuance to acquire a new studio location in Dallas, Texas.
• Shares Issued: 437,500 Class A subordinate voting shares.
• Price Per Share: 40 U.S. cents (deemed price).
• Consideration: The shares were issued in exchange for the right, title, and interest to 175,000 LLC membership units of the newly formed entity.
• Ownership Stake: Miniluxe’s wholly owned subsidiary holds approximately 66.15% of the issued and outstanding LLC membership interests.
• Hold Period: All securities issued are subject to a hold period of four months and one day from the date of issuance.
• Strategic Partner: The joint venture includes Leslie Concors, an experienced entrepreneur with a 25-year record of growing private equity-backed consumer brands, and Kayleigh Se, Miniluxe’s long-standing regional operating partner for the greater Dallas area.
• Location: The new studio is located in the Lakewood neighborhood of the Dallas-Fort Worth market.
• Operational Continuity: Key team members of the acquired salon will remain with Miniluxe.

Notable Quotes

• Anthony (Tony) Tjan, CEO: "We are finding some good signs of M&A success in identifying Tier 1 conversion opportunities that are in the right neighborhoods with the right local and operating experience. I am thrilled about this Lakewood location in Texas, which expands our presence in a very strong and proven market."
• Leslie Concors, Partner: "After being a loyal Miniluxe client for years, I am excited to become a shareholder in Miniluxe and become a partner in this location -- and hopefully more going forward. In partnership with Kayleigh and the Miniluxe leadership team, I am confident we can make this acquisition highly accretive and bring the Miniluxe experience to the phenomenal Lakewood neighbourhood."