Vending

Refreshing USA to merge with acquisition firm, become publicly traded

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February 13, 2023

Refreshing USA, has teamed with Integrated Wellness Acquisition Corp., a publicly traded acquisition company, to merge under a Delaware corporation that will operate under the Refreshing USA name and be listed on New York Stock Exchange under the new ticker symbol "RUSA," according to a press release.

Refreshing USA is a nationwide automated and unattended retailer established in 2020 with the goal of revolutionizing the convenience services industry and to deliver a refreshment experience with state-of-the-art equipment.

Following the transaction, Refreshing USA will continue to be led by its leadership team including Ryan Wear, founder and CEO; Jeremy Briggs, director of finance; Doug Potts, director of administration; Mike Melton, director of operations; Bryce Froberg, director of sales and marketing; and Nickolas Streeter, director of research and development.

"This merger and entry into the public markets will allow us access to a much larger pool of capital and increase our global profile," Wear said in the press release. "We believe that the proceeds from this transaction will put us in a position to quickly grow in what we see as a $9.5 billion industry in the U.S. and a $57 billion worldwide market that is projected to grow at a 6.7% CAGR."