Affinitas Completes Merger With Spark Networks

Spark Networks

Affinitas has now completed its merger with Spark Networks.

The combined company, called Spark Networks, will house brands including EliteSingles, eDarling, JDate, Christian Mingle, JSwipe, and Attractive World to serve users in 29 countries and 15 languages.

CEO Jeronimo Folgueira said: “We are pleased to announce the completion of this transaction and the successful formation of a pure play dating leader in Spark Networks SE.

“Our increased scale portfolio of strong, well-known brands, and improved financial strength positions us well to deliver a superior user experience to our customers and drive long-term value for shareholders.”

The transaction was a stock-for-stock merger, with former EliteSingles stockholders owning approximately 75% of the combined company and former Spark Networks stockholders owning approximately 25%.

Pursuant to the terms of the definitive merger agreement, Spark Networks stockholders are entitled to receive one newly issued American Depository Share of Spark Networks SE for every 10 shares of Spark Networks common stock that they owned immediately prior to the effective time of the merger.

The American Depository Shares have been approved for listing on the NYSE American LLC under the trading symbol “LOV.”

The first day of trading happened on 3rd November 2017.

In terms of management, Spark Networks SE has named a board containing seven directors: Jeronimo Folgueira, Colleen Birdnow Brown, Brad Goldberg, Axel Hefer, Clare Johnston, Joshua Keller, and David Khalil, who will serve as Chairman of the Spark Networks SE board.

An interview with Spark Networks CEO Jeronimo Folgueira about the merger is coming later this week – read more about the deal here.