Conyers Park Acquisition Corp. and Atkins Nutritionals Inc. have agreed to merge and create a new holding company called The Simply Good Foods Co. with an enterprise value of about $856 million. Atkins is owned by affiliates of private-equity firm Roark Capital Group. The new entity will be listed on the Nasdaq under the ticker symbol "SMPL". The deal will be funded using a mixture of cash, stock and debt. Atkins owners will receive $730 million in total, including 10.3 million shares of Simply Good Foods valued at $10 a share. Conyers Park has $402.5 million in cash in its trust account, as well as commitments for $100 million stock private placement at $10 a share. The deal is expected to close in June. Conyers shares were halted premarket, but have gained 2% in 2017, while the S&P 500 has gained 5%.
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