Monitor the SEC's declaration of effectiveness for the S-4 registration statement and any shareholder redemptions ahead of the vote, as redemptions could materially alter the pro forma cash balance and enterprise value.
Price Chart
Executive Summary
Melar Acquisition Corp. I (MACI) filed an investor presentation on Form 8-K/425 in connection with its pending business combination with Everli Global Inc., an Italian online grocery marketplace. The presentation highlights Everli's FY2025 financials: $77.9M GTV, $16.7M net revenue, and $1.1M gross profit, with a pro forma enterprise value of $243.8M at $10.00 per share. The deal remains subject to shareholder approval and SEC effectiveness of the S-4 registration statement, with no changes to terms disclosed.
Key Financial Metrics
Key Facts
- Everli reported FY2025 GTV of $77.9M, net revenue of $16.7M, and gross profit of $1.1M.
- Pro forma enterprise value is $243.8M based on 31,295,545 shares outstanding at $10.00 per share.
- The $30M PIPE is not yet committed and is illustratively priced at $10.00 per share.
- Everli operates in Italy, where only 2.5% of grocery was bought online in 2024, with a target market of $12.1B by 2030.
- The business combination requires shareholder approval and SEC effectiveness of the S-4 registration statement.
- Everli claims a ~21% take rate and gross profit positive per order, with a new platform launched in Q2 2026.
Financial Impact
Pro forma enterprise value of $243.8M; Everli FY2025 net revenue of $16.7M and gross profit of $1.1M.
Risk Factors
- The $30M PIPE is not yet committed, creating financing risk for the business combination.
- Shareholder redemptions could reduce the trust cash available at closing, impacting the pro forma balance sheet.
- The deal is subject to shareholder approval and regulatory conditions, with no guaranteed closing timeline.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001213900-26-101181 |
| Document: ea030589901ex99-1.htm | 0001213900-26-101181 |
| Document: 0001213900-26-101181-index-headers.html | 0001213900-26-101181 |
| Document: 0001213900-26-101181-index.html | 0001213900-26-101181 |
| Document: 0001213900-26-101181.txt | 0001213900-26-101181 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $11.00 | awaiting T+20 | — | $9.42 (−14.36%) |
Oct 15, 2026 11d ago | 425 | $11.10 | awaiting T+20 | — | $9.42 (−15.14%) |
Oct 15, 2026 11d ago | 8-K | $11.10 | awaiting T+20 | — | $9.42 (−15.14%) |
Oct 6, 2026 20d ago | 425 | $11.06 | awaiting T+20 | — | $9.42 (−14.83%) |
Oct 6, 2026 20d ago | 8-K | $11.06 | awaiting T+20 | — | $9.42 (−14.83%) |
Sep 18, 2026 5w ago | 425 | $11.02 $11.10 | ▲ +0.73% | ▲ +0.52% | $9.42 (−14.52%) |
Sep 18, 2026 5w ago | 8-K | $11.02 $11.10 | ▲ +0.73% | ▲ +0.52% | $9.42 (−14.52%) |
Jun 11, 2026 19w ago | 8-K | $10.79 $10.89 | ▲ +0.93% | ▼ −0.85% | $9.42 (−12.70%) |
Jun 11, 2026 19w ago | 8-K | $10.79 $10.89 | ▲ +0.93% | ▼ −0.85% | $9.42 (−12.70%) |
US Market Status
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