Q – Can you explain what the different company names mean?
A – Hall of Fame Resort & Entertainment Company is the company that owns the premier sports, entertainment and media enterprise surrounding the prestigious Pro Football Hall of Fame in Canton, Ohio.
Hall of Fame Resort & Entertainment Company combined with Gordon Pointe Acquisition Corp. Upon the close of the transaction, the combined company changed its name to Hall of Fame Resort & Entertainment Company and is traded on the Nasdaq Stock Market under the ticker symbol “HOFV”.
Hall of Fame Village powered by Johnson Controls is a development of Hall of Fame Resort & Entertainment Company, and is a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame’s campus in Canton, Ohio. It provides a themed sports, entertainment and media venue to capitalize on the popularity and fandom associated with professional football and its legendary players.
Q – Who are the new investors in HOFV?
A – Gordon Pointe Acquisition Corp., a Specialty Purpose Acquisition Company (SPAC) that offers multiple solutions to unlock and create long term value for potential partner companies, has invested in Hall of Fame Resort & Entertainment Co. and taken the company public. You can learn more about Gordon Pointe at www.gordonpointe.com. Immediately following the proposed transaction, the combined company changed its name to Hall of Fame Resort & Entertainment Company and continues to trade on the Nasdaq Stock Market under a new ticker symbol “HOFV”.
At a Special Meeting of GPAQ stockholders on March 25, 2020, stockholders will be asked to approve the business combination. The Special Meeting will be held at the offices of Fox Rothschild LLP, at 2000 Market Street, 20th Floor, Philadelphia, Pennsylvania 19103. Company stockholders of record at the close of business on February 18, 2020, will be entitled to receive notice and vote at the Special Meeting. The completion of the Business Combination remains subject to other customary closing conditions, including receipt of approval from the Company's stockholders.
Q – So GPAQ is a SPAC. What exactly is a SPAC and what do they do?
A – Gordon Pointe is a “SPAC,” which is short for Specialty Purpose Acquisition Company. SPACs are blank check companies that are specifically formed for the purpose of identifying and combining with a high-growth business that will benefit from becoming a public company and having a strategic partner to build long-term value for all stakeholders, including employees, partners, and investors.
Gordon Pointe has identified Hall of Fame Resort & Entertainment Company as one such company with high growth potential, and their investment in HOFV is a testament to the power and momentum of HOFV’s business model and prospects. Going public directly aligns with the Company’s long-term strategy and will provide Hall of Fame Resort & Entertainment Co. with a permanent source of capital, allowing us to elevate our singular sports and entertainment platform, execute Phase II of our development plan, strengthen our existing partnerships, reach new audiences through additional programming, and capitalize on all opportunities for growth. It is business as usual at HOFV as we work through the transaction and continue to provide excellent service, products and experiences to football fans.
Q –What does it mean to be a “U.S. public company”?
A – To be a U.S. public company usually means that the company is permitted to offer its securities (stock, bonds, etc.) for sale to the general public, typically through an exchange.
Q – Can I buy stock in Hall of Fame Resort & Entertainment Company?
A – Once the transaction closes and the company becomes public, shares in HOFV will be available for purchase on the open market.
Q – Who should I contact with questions about the transaction?
A – If members of the investment community or media have any about the transaction, please reach out to Jacques Cornet (Jacques.Cornet@icrinc.com) for investor inquiries and Phil Denning (Phil.Denning@icrinc.com) for media inquiries.
Q – Where can I find Hall of Fame Resort & Entertainment Company’s SEC filings?
A – Filings can be found on the SEC’s website at www.sec.gov.In addition, these filings can be found on Gordon Pointe’s website. Following the close of the transaction, the filings will be posted on Hall of Fame Resort & Entertainment Company’s investor relations website.
Q. – What other announcements has Hall of Fame Resort & Entertainment Company made recently?
A – For recent announcements and additional information on Hall of Fame Resort & Entertainment Company and the Hall of Fame Village powered by Johnson Controls, please visit the “News and Updates” site at www.HOFVillage.com.
To view all announcements and investor presentations, please visit the “Press Releases and Events” section at www.gordonpointe.com.